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Lucrative Investments

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Message 1 of 36

Hello,

I'd like to make an investment (I'm on a budget though) and don't know where to begin, any suggestions would be helpful :-)

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Re: Lucrative Investments

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Many community colleges have "Investing 101" type classes that are inexpensive; sign up for a couple.

 

Google "Investing for Dummies" or go to Barnes & Noble; for ~ $15 you can get a paperback copy & start learning about the market.

 

Find yourself a VERY reputable brokerage & broker with patience, who'll answer your questions & explain things simply, and help you select the right investment for your level of risk tolerance. Don't get sucked in by promises of well above-average returns, or any broker who wants you to think what he can do is "magic"!


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Re: Lucrative Investments

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Message 3 of 36

Thank You for the very good suggestion :-)

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Re: Lucrative Investments

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1. Save  'til it hurts.

2. Go with a well known investment firm

3. DIVERSIFY

4. Don't panic if/ when the market goes down ; it will come back up.

5. DIVERSIFY

6. Mix bonds and stocks for a safety net and growth/ income power.

7. All these things a reputable investment counselors SHOULD tell you; if he/ she doesn't, get out of there!

8. My income is higher now than when I was working full time, in large part because I followed these rules.

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Re: Lucrative Investments

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@ds30055407 - I would just back off a tad on your first suggestion; to "Save 'til it hurts". I would suggest either "Save until it almost hurts" or "Save 'til it hurts .. then back off a tiny bit." Anything a person feels forced to do "until it hurts", can very easily become the reason they lose their motivation .. whether that's saving money, working out, or anything else.


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Re: Lucrative Investments

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The Dollar is a decling asset.I would avoid keeping the majority of your savings in anything that pays you in Dollars.That would include cash,CD's,bonds,etc.You need to take a long term approach.Have just enough Dollars for short term spending needs.Don't try to time markets or buy short term things like options,etc.You need the majority of your savings to be in real assets,such as common stock of great companies,real estate,etc.There is tons of information on investing on the internet.Start reading and learning.Invest in safe,well managed companies at first.Listen to conference calls,these companies have after every quarter's earnings reports.You will learn a lot about the companies.Major brokerages have a lot of research info on their websites.Stick to large brokerages and don't get involved with commissioned salesmen,who will sell you anything for commissions,not caring how well you do.Good luck.Have patience and do your  homework and it will work out over the long run.

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Message 7 of 36
Great information, thanks for your honesty :-)
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Re: Lucrative Investments

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Message 8 of 36
Exactly, will continue to save till hurts ;-)
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Definitely will do the homework, thank for all of the good tips :-)
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Become as educated about investing and investing terms as possible. Then have clarifying conversations with a reputable agent in the industry.

 

Some good sites that provide educational content are

* Money Crashers

* Investopia

* (a little edgy) Motley Fool

* Balance, Finance

 

Learn the terminology. Understand the terms (a short, put, call, and so on). When it comes to your ballot, understand what a bond is compared with a mutual fund. What is term life compared with an  annuity. Write these things down and put them into some type of spreadsheet so that one can be compared to another.

 

Durable powers of attorney are good but be certain of the character of the person who has that power. Basing that decision on the fact that they're a family member so you're *supposed* to be able to trust them doesn't hold water.

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