23 Years Old 30k???
July 30, 2010 | In: Uncategorized
Hi there i am 23 years old and have almost 30K to invest..
i am currently investing in mutual funds. I am looking to further my investments ant returns. I am kind of new to the whole investment game and was wondering if anyone had any information that might help me out in the long run. Eg. type of investments or what to invest in….
Thanks in advance
I am willing to take more risk.. but i would like to do more research before i start taking these risks. I dont want to invest in bonds as the return isnt very high. I continue to add to my investments probably 4 times a year. i want to see them grow as much as possible. I will probably be taking a bit of it out in5 years to put a down payment on a house. other then that i want to keep these investments until i am ready to retire….
8 answers
Kyle B
July 30th, 2010 at 12:30 am
Stick with mutual funds (better yet, index funds), especially if you are new. Unless 30K is enough in your area to act as a down payment on a house, if you’re currently renting.
The best investments are the boring ones unless you want to gamble.
Grick
July 30th, 2010 at 12:50 am
It depends how much risk you’d be willing to take. You can invest in bonds which are relatively low risk. Government bonds are no risk. I’m a pretty big risk taker, so I plan on investing in stocks once I have the funds to do so. You can also invest in the roulette wheel in Vegas =). 50% chance of doubling your money.
Mrmann
July 30th, 2010 at 12:53 am
stick with mutual or go to bonds that say if you give this amount of intrest i wont touch this money for this amount of time and you will get more money that way
engineer50
July 30th, 2010 at 1:35 am
Have you read the book “Investing For Dummies”? It provides a great overview of investing options. If you’re already beyond the basics, there are a number of good “advanced investing” books and websites around.
Congrats. Sounds like you’re doing great at 23!
mark8:34
July 30th, 2010 at 1:57 am
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Dave
July 30th, 2010 at 1:58 am
I think the goal to successful investing is knowing what your objectives are and matching investments accordingly.
The money you want to use for a home downpayment should probably not be in a stock mutual fund. I know the market is doing well but do you really want to risk not having a downpayment if the market goes south for a year or two. If you’re willing to assume the risk for the larger return, do it knowingly.
If you are saving money for the long term (e.g. retirement), then make sure you have it in the right vehicles (Roth IRA, Roth 401K, traditional IRA and 401K). This money should be invested in stock mutual funds for good returns over the long run.
You can invest some of the money in individual stocks (not more than 10%) if you like doing the research and market tracking, etc. Most people don’t really enjoy doing this sort of thing so mutual and index funds are a better choice. You should probably have some international exposure in a good mutual fund as well (10-20 %) since the returns have been higher in the international marketplace versus the US.
That 30k will be worth quite a bit when you retire. Hard to think of when you’re 23 though. Learn to live within your means and you will do well. I think credit cards and expensive cars are the ruin of many people, young and old.
lady dee
July 30th, 2010 at 2:01 am
I have been doing this for the past one year and earned (& still earning) daily , you just need to research and also dive in & get your feet wet if you really want to see the income. Go to http://www.G1G4.net (guest code:60209), watch the movie & listen to the conference calls, some major changes in people’s lives. Your contribution is very minimal & the returns are high. Good luck!
Jakes
July 30th, 2010 at 2:41 am
Hi there just send me a mail to, jaques606@yahoo.com, with “30K”, in the subject line, and i’ll send you some info regarding this matter.
Will reply asap.