Your Questions About Investing Money

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Donald asks…

Is 21 too young to start investing money?

I will be 21 soon and I have $3000 that I would like to invest, is 21 too soon? My parents pay for college and I do not have a high car note or living expenses, would investing the money be a good idea?

financi4 answers:

The younger you are, the more you’ll benefit from compound interest. Compound interest results in exponential growth. $3,000 is a good start but what’s best is a regular monthly investment, then you can take advantage of dollar cost averaging. Finance books are also a good investment, try to read one a month. They tend to all have the same ideas phrased in different manners but the idea is to drill it into your head so that it all becomes second nature and automatic. You need to make financial awareness part of your daily life.

Michael asks…

I’m young but i’d like to start investing money?

I’m 20 yrs, and have been saving money for the past 2 yrs while im at school. However, I think investing might be a smart choice because i’d like to see some more growth. Whats something you would recommend someone my age do? Also im no fiance guro, just a regular kid
do you mean SAVINGS? Checking doesn’t generate growth

financi4 answers:

Just get a checking account.

Reply: I meant checking because you never know when you will need some of that money. If you put it in savings, some policies won’t let you take any of it out.

On second thought, CDs (Cash Deposits) are your best best. It’s a cash deposit for 1, 2, 3, 4, or 5 years (your choice) with a fixed interest rate.

George asks…

im looking to start investing money for retirement question.?

how much money should i put aside per month to retire in 20 years. what should i talk to my invester about investing in. any help would be appreciated. i live in mississippi and my income is approx 90,000/year.

financi4 answers:

Start by adding the maximum to your retirement plan at work. After you max that out, invest the maximum in a Roth IRA each year. If you still have extra investable money after that, put it into a non-qualified account. I would use mutual funds, but you could also go with an annuity in order to defer paying the taxes until you retire.

Good luck

Chris asks…

where can i find tutorials for basics of investing money?

i want to learn how to invest money in stock market. i have no idea about anything related to this field. but i really want to learn how to do this.

financi4 answers:

is the best website I have come across. Let me know if you find a good one. Good luck, and thank you!

Richard asks…

Is there a website for young adults that explains in a simple, yet detailed way how to begin investing money?

I know pretty much zero about investing, but I would like to start putting my money somewhere where I could eventually make a profit. I’m just beginning college, so I don’t want and can’t to invest lots of money.
I don’t know any investing vocab! I really need something that explains the very basic stuff.

financi4 answers: and
Two websites you can check out. Best way to start investing is to just by setting aside a small about each week or month i.e. 25.00/week and letting it set in a savings account until you find a certain investment you would like. Whatever you do make sure that the investment is something you are comfortable with. And whatever anyone tells you nothing will guarantee a return except goverment obligations such as government issued bongs and banks. OTher than that there is risk. However risk isn’t necessarily bad. Just research before you buy.

William asks…

what is the best way of investing money to show tax benefit and also good return?

what is the best way to invest money to tax benefit and good return. i will keep plan of investement for next 3 years. is there any best way to do….?

financi4 answers:

I just did an article on this. Copy & paste the link in address bar
ELSS or tax saving mutual funds are best for tax savings & returns. You can pick any 1 or 2 funds from the following list:
1. Canara Robeco Equity Tax Saver
2. Fidelity Tax Advantage
3. Franklin India Taxshield
4. HDFC Taxsaver
5. Magnum Taxgain
6. Sahara Tax Gain
7. Sundaram BNP Paribas Taxsaver

Thomas asks…

I am interested in finding realestate notes.what is the safest way to invest time without investing money?

Realestate notes and buyers are my interesed but i am tring to get my foot in the door without sending my money to one of those ‘CARLTON SHEETS” guys. Is there a way i can get into this profession without investing my money.Just my time?

financi4 answers:

Go to your local court house, research the real estate or “deed records for deeds of trust, mechanics liens, etc., pull the data off of the deeds of trust, ie., where the grantee or mortgagee is obviously not a lending institution, (owner financed notes), get the amount, terms, p/off, address, etc., to contact the holder of the note to negotiate a purchase….careful though…a venture is considered high risk if you do not know how to minimize and eliminate your risks..non performing notes are a joke

Daniel asks…

What books are good on the subject of personal finance and money , investing, buisiness etc?

fairly good or good, books on things to do with money, finance, buisiness, and investing?

financi4 answers:

Maybe this should be under investing, not real estate, but I’d reccommend “The Wealthy Barber”, “The Millionaire Next Door” or “The Richest Man in Babylon”. These are all classics (and much as you can have classics on general investing and savings principles) but they are not real estate related.

Ken asks…

I am 18 years old, and would like to start investing money…?

Hello. I have never really been interested in finances, but i am going to start doing a holiday job next year and i would like to invest some of the money i earn. Where do i start to learn more about investing money?

financi4 answers:

Just the title of this book should encourage you to get hold of a copy and read it:

“Rich Dad Poor Dad for Teens: The Secrets About Money–That You Don’t Learn in School!” by Robert Kiyosaki.

Amazon link, to see the cover, read the reviews that previous readers have posted, and to click above the cover photo where it says “Look inside” to take a sneak preview:

And to prove that you’re clever at saving money, call in to your local library or college library and get them to get you a copy to read for free ! 🙂 Why spend on buying a copy?

Seriously though, remember Yahoo Finance lets you pretend to trade stocks by keeping details in a portfolio, so you can “pretend trade” without risking real hard-earned cash but still learn. See the “My portfolios” tab at:

And see “Investing 101” in the left side bar at:

If you are competitive, and like to compete against other people investing with “pretend money”, then type in

“virtual stock exchange”

on Yahoo Search; or go to:

if you want to trade against UK college students.

For books on investing, there’s all sorts from the “Dummies” stable – see the range at:

and again, consider saving your money by browsing them in your local bookstore to see if you like the style, and borrowing them from libraries.

Any money from a holiday job isn’t going to make too much money as you’ll want it in a safe place like T-Bills or a high interest bank account – but watch that you can get access to the money easily.

Some places only pay higher interest rates if you promise not to ask for it back for, say, one to 5 years.

And with interest rates so low at the moment – from 0.5% to 4% – you’ll have to keep a $100 in there for a year to get $4 back – those are annual interest rates.

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