6 Responses to “What is the best way to invest my first 1000 saved dollars?”

1. 

   dj June 29th, 2010 at 11:06 am

   If you’re planning for the long term and won’t need the money soon, mutual funds are a good way to start. There are lots of respectable companies that sell them and will set up an account for you: Fidelity is the biggest, but Vanguard and many others as well. Many experts recommend a stock index fund, like an S&P 500 index fund.

   You can trade stocks yourself if you’ve got the nerve, but mutual give you a small share in many stocks so your risk is lower than being in one single stock. Since this is your first thousand, you may not want to take that kind of risk.

   If you think you may need the money soon, put it in a short-term CD or a high interest rate savings account. Shop around for rates– you can get 5% or more in a regular savings account if you look. Capital One, ING Direct, and World Savings are examples of companies that usually have good rates.

2. 

   buddy July 2nd, 2010 at 12:23 am

   strippers and coke.

3. 

   A5150Ylee July 3rd, 2010 at 11:37 pm

   If you don’t know that much about investing, the best suggestion I could make is find a good, low fee, no-load mutual fund. Something like 75% of the mutual funds out there under perform the S&P500 so if you don’t want to do any research, pick a S&P500 index fund.

   I know Vanguard has pretty good management fees, is no load, has a small inital investment required to open an account ($500 I think), automatic monthly investments if you want, and has a 500 Index fund.

4. 

   Chris C July 6th, 2010 at 1:32 am

   If you can tie the money up long term (10+ years), you should buy an extended market index fund (Vanguard has the lowest management fees).

   If there is a high likelyhood you will need to withdraw money in under 2-3 years, you may want to look at high-yield CDs.

   I would not recommend individual stocks unless you are willing to take a lot of researching and tracking. In the end, you are almost guaranteed a better long term rate with an index fund.

5. 

   Agueda F July 6th, 2010 at 9:00 pm

   I think you could look at FOREX market. The bigest market in the world. Take a look at:
   ………..

   they are a Private Club of Investments and offer very high interest funds. (10% to 23% month) with more 3000 investors just in this moment. You can gain access now for FREE to register and look inside.

6. 

   Rick July 9th, 2010 at 9:00 am

   I personally am wondering similar, I thinka high interest CD account. Go for a 6 month (typically) at about 5.22% interest.