sigs
Rep Points: 510
Am just transfering some money from an old bank account. I'd like to look at the possibility of investing this. If so what should I need to know and what sort of options do I have?
If you are going to invest it, I assume you don't have any debts to pay and have an emergency fund. If that isn't the case, that's where the money should go first.
The interest rate on your credit card represents a return on your money. If you have an outstanding balance on a credit card that is charging you 20%, you get a guaranteed, absolutely safe return of 20% on your money. The only other absolutely safe returns are treasury bills and insured Certificates of Deposit. You might get a little over 5% on those.
Next you need an emergency fund, not just to cover things like car repairs but enough to live on for a couple of months.
After that, look at retirement funds, such as a 401K or IRA. If you aren't contributing the maximum to your 401K at work, you could increase your contribution and make up the difference in your take home pay by withdrawing a little from your bank account every month.
If you've maxed that out, then you can start looking at other investments.
i think you have to look at how much you have and goals do you want set for it.. Take half of that and go talk to a broker and invest that..
yes, look at how much you have, then take half and invest that part first
I would suggest that, it can be done through the interest rate purpose. This can be made by how much we need our money to be added in the account and the method of the deposition. and the interest for those account. I could tell just offering for the higher interest would be a better idea for transfering the money.
