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Started By
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$1500-2k, what to invest in?
Posted on 1/31/11 at 4:30 pm
Posted on 1/31/11 at 4:30 pm
I know yall get these all the time. But just about all of my cash is invested in stocks, I am only 21 so I don't need to much cash as I am still in school as well. Any suggestions? I was thinking maybe Citi? I bought 300 shares a few months back, still think it will go up eventually. Not looking for a quick turnaround.
Appreciate it, and if these posts are not allowed feel free to RA me.
Appreciate it, and if these posts are not allowed feel free to RA me.
This post was edited on 1/31/11 at 4:30 pm
4
Posted on 1/31/11 at 4:35 pm to lighter345
quote:
Appreciate it, and if these posts are not allowed feel free to RA me.
Asking is fine.
Posted on 1/31/11 at 4:48 pm to LSUAlum2001
Oh boy.
Posted on 1/31/11 at 4:57 pm to RemouladeSawce
Something not tied to energy, the Suez Canal is about to be taken over by a radical Islamist government. Only advice I can give, sorry.
Posted on 1/31/11 at 5:00 pm to Defenseiskey
It's cool any advice is appreciated
Posted on 1/31/11 at 5:19 pm to lighter345
Do you have an IRA yet?
Posted on 1/31/11 at 5:21 pm to LSUtoOmaha
I was just thinking about that
. Don't I meed to add to it every year though? I don't know much about it
. Don't I meed to add to it every year though? I don't know much about it
Posted on 1/31/11 at 5:25 pm to lighter345
Nah you don't. The only thing you cannot do is exceed the annual $5,000 maximum.
What you should do is take the 1.5-2k, put it in a Roth IRA, and then buy a low-fee Vanguard Index Fund. Any interest you earn will be tax free once you retire. Also, you can take out the principal without any penalty before the retirement period if you need to.
What you should do is take the 1.5-2k, put it in a Roth IRA, and then buy a low-fee Vanguard Index Fund. Any interest you earn will be tax free once you retire. Also, you can take out the principal without any penalty before the retirement period if you need to.
Posted on 1/31/11 at 5:27 pm to LSUtoOmaha
So I can't touch this until I officially retire correct?
Posted on 1/31/11 at 5:30 pm to lighter345
You can withdraw the principle but not the earnings before retirement
Posted on 1/31/11 at 5:32 pm to lighter345
You can touch whatever you put into it, namely the principal, without any penalty or tax payments.
Any interest you earn, however, you cannot touch until you retire unless you pay taxes and a 10% penalty.
**Just as an aside, you can take out $10,000 without penalty after 5 years to use as a downpayment on a house.
Any interest you earn, however, you cannot touch until you retire unless you pay taxes and a 10% penalty.
**Just as an aside, you can take out $10,000 without penalty after 5 years to use as a downpayment on a house.
Posted on 1/31/11 at 5:33 pm to LSU1018
Thanks y'all I guess this is probably the most responsible thing I could do with this money.
Posted on 1/31/11 at 7:19 pm to lighter345
If you are 21, backpack through Europe this summer. Might not be the answer many on here will give but that experience will be something you never forget.
Posted on 1/31/11 at 7:28 pm to saderade
Going to innsbruck for a month. First time out of the country except for Mexico
Posted on 2/1/11 at 9:12 am to lighter345
quote:
$1500-2k, what to invest in?
red...
or black.
Posted on 2/1/11 at 10:00 am to lighter345
Im a young gun myslef and am new to the NYSE and love to gamble! so I took some coins and got on Smurfit Stone Container (SSCC) after they went bankrupt and made some good money, but not as good as I should. So I took that money and invested in something with a good dividend. I jumped on Windstream (WIN) @ 11.90 and it has been fairly decent to me. it pays a quarter a share.
Posted on 2/1/11 at 5:30 pm to AuburnChief
Put it all on Starbucks. That new logo is going to put them over $40.share...
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