First off congradulations having $6,000.00 to invest and having no debt.... Here is some advise for you too consider:
1.) Take $1,000.00 and open up an account at http://www.ing.com....use this account as an emergency account, so that in times if you need the money you won't have too tap your investments.... You will get a bonus of $25.00 for opening up an account too....
2.) Take $2,000.00 and open up an account at http://www.sharebuilder.com ....use this account too purchase stocks and/or etfs.... by opening an account there you will recieve a bonus of $25.00....*a little trick here if you open up an account with $1,000.00 of the $2,000.00 and then go to referr a friend and send an e-mail back to yourself and answer it and open an account again with the other $1,000.00 you can get another $25.00 bonus.... use one account to purchase stocks and the other too purchase etfs....
3.) With the last $3,000.00 open up an account at http://www.edwardjones.com....Open up a Roth IRA and fund it with the full $3,000.00.... Chose something like American Funds... they are pretty good and have a minimum of only $250.00 to fully fund the fund....
Remember that if you have a 401k at your place of work too try too fully contribute too it especialy if they match your funding...
You can also check out http://www.savingsbonds.gov ...... You can buy Serries I and EE bonds as well as notes ect. there
And last you could think of CD's at htt://www.ing.com and check out their options on CD's.... If you were to do something like this I would recommend that you go with a format like this 6 month cd, 9 month cd, and a 12 month cd... and each time one matures invest it back into a 12 month cd...that way your cd's are laddered.I have $6,000 and no debt, i want to invest but don't know where to start, any expert advice or help? Thanks!
Open an IRA.
i would put it into a moderate risk mutual fund portfolio.
buy stocks
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Your best bet would be Mutual Funds. Go to your bank and speak to their investment counselor, and ask for recommendations. You can put them into an IRA and still trade within it if you wanted to. Keep your cash in a Money Market account that's linked to the investment account, but not in the IRA. Do most of your daily spending with a credit card that offers cash back or Mileage incentives, and pay the balance off 100% every month, on the day before it's due. This will keep your money accumulating interest for an extera 4-6 weeks, and build your credit line and score.
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I would put $5,000 in a roll over fund for 6 or 12 months and live off the interest and keep a $1000 out for emergencies incase some thing goes wrong or you you want to do something else.
PICK MY ACCOUNT PLEASE!!! :) That's a good investment (for me)
get a schwab acct %26amp; see the option shtere. ';Open an IRA'; is not a plan. It is what you put in that IRA that is the plan. Key is to get moving now. Can't put it off. NO banks/cds if this is long term investment money.
Everyone needs 3-6 months of expenses in an emergency fund in case of illness, job loss, or short-term disability. This sounds like a good start for your emergency fund. I would suggest putting this money in a savings account like ING Direct's Orange Savings Account. The interest rate is good (4.35% APY) and it links to your existing checking account.
After your emergency savings is built up, then consider Roth IRAs. Your earnings will grow tax-free and you can withdraw contributions without penalty.
Congratulations on your limited use of debt. The lack of debt gives a person lots of options in their financial life. I would recommend that the first thing that you do is establish an emergency account equal to 4 months of your fixed expenses. (mortgage/rent, car payments, student loans, food) This should be put into something that has no risk to principal at all. Money markets, savings accounts, or I savings bonds are great options. I know that is not a sexy recommendation but if you or your wife lose your job you have to have a way to get by without accumulating debt. Go to www.bankrate.com to find money markets or savings accounts with the best rates. Go to www.savingsbonds.gov to learn more about I bonds. Once that is out of the way you are ready to invest whatever is left over. I am assuming that you do not plan on using this money for at least 5 years. If that is the case, I recommend index mutual funds as the base of any investment portfolio. Index funds are designed to track the major indeces such as the S %26amp;P 500, Nasdaq, or the Russel 5000. They typically have low internal expenses and are extremely tax efficient. If you are eligible to contribute to a Roth IRA, I would recommend you open one and fund it as I've suggested. You can do this at almost any brokerage firm such as Charles Schwab or Fidelity or you can go directly to a mutual fund company such as Vanguard or Janus. Once you put money into this type of investment you should check out your statements but not get to obsessed with managing this on a daily basis. I can promise you that it will go up and it will go down. Time is your best friend with this type of investment. Good luck to you. I hope this was helpful.
Congrats! I'd seriously consider a Roth IRA. You won't have to pay taxes on the money it earns.
You can buy one directly online. All of my investments are through the company below. Good luck!
The two of you should have 6 months salary tucked away for an emergency before considering investments. An IRA is a perfect place to put the $6000. It can then grow in a high yield, low risk interest bearing account tax-free. Should you need access for an emergency it is there. You should add to it every month. Once you achieve 6 months of cash, consider investing the amount over six months in growth oriented mutual funds.
As an aside, if you don't own your own home that would be an investment that you can live in and enjoy. It is a worthwhile objective as well.
I'd put it in an Ameritrade or Scottrade account where you don't have to pay high trading commissions. A full service broker will charge you $200 and give you no better advice than you can research yourself. A good area to invest in right now is natural gas. The prices are down unlike the rest of energy stocks and fall is coming soon which means they'll go back up. A hurricane also can make them go up. Take a look at GSX and CHK.
