JKP0011 asked:
I’m 22 years old, and wanting to purchase a house in the next year or two. I have money in savings right now which is making terribly low interest. What would be my best move? I’d like to invest the money short term, but I’d like to make a good amount of money doing so. Is that possible and how? CD’s and Money Market accounts just aren’t gonna give me the results I want.
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Comments ( 7 )
Thin Kaboudit added these pithy words on Feb 27 08 at 9:13 pmIt not possible at all. Think about it, if there were a way to get great returns with little risk in the short term, those would cease to be “great returns”, and other models would develop!
There is no reward without risk, but the biggest risk is taking NO chances!
Eugene L added these pithy words on Feb 29 08 at 10:01 pmAs someone has already mentioned, the only way for you to make a lot of money in a short amount of time is through taking on investments with greater risk in order to be exposed to possible greater returns. However, if you’re wanting to purchase a house in the next year or two, you obviously don’t want to risk losing your possible deposit.
Beware of any “shortcuts” some people might suggest to the road to getting rich, as if it really worked a lot more people would do it.
In the short term, your best options are probably to try and earn some more money rather than earning interest or capital gains from investing your money.
In the long term your options are a little bit broader though.
I know this advice may not seem that helpful, but at least it may save you from possibly losing money by taking bad advice elsewhere.
metro900 added these pithy words on Mar 01 08 at 5:06 amStocks pay an average of 11% a year. So if you have $50,000 right now, you would have $84,000 in 5 years.
Dr. Deth added these pithy words on Mar 02 08 at 11:53 amnext step up is mutual funds - but there is risk involved - that’s still only 10% return - long term
Frank Castle added these pithy words on Mar 04 08 at 7:52 pmOpen a brokerage account at Zecco and I will help you for FREE. (I am a Portfolio Manager)
jasonsegon added these pithy words on Mar 07 08 at 1:20 pmTry you will be impressed!
And remember to do your own research.
Daniel M added these pithy words on Mar 10 08 at 5:51 amThere are several options when it comes to Investing. However I have invested in CD’s, stocks and Real Estate and I have loved investing in Real Estate. The returns are great and their 30 times what you are going to get from the stock market. I use T & D Investment Group and I think you should check them out they are great and they can get you started ASAP. Also, they have a loss prevention program so you don’t have to worry about losing your money and most of their properties are sold before they even start working since there is such a high demand in the markets they are in. Their website it and Jill Daniels is the Investment Specialist that you will work with and her email address is.
I Hope This Helps You