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Adding money to an Investment? |
What investment like mutual funds, municipal bonds, Certificate of Desposit, etc. where i can put in more money as I save it into one of these and it also gets the interest? Mark, depending on what type of investment your planning. IRA, Roth IRA or savings. Many banks will offer an higher interest rate for some accounts that you need to keep a certain amount in that account, yet can add at any time. For mutual funds, stocks etc you can utilize an investment company such as Fidelity or Van Guard etc.. (note I am not recommending a specific company this is just to give you an idea of the possible companies out there) and can put in a monthly (bi-monthly) amount as long as you meet their minimum investment in that fund. This is a bit more risky than the bank account, but could also yield a higher income, as well as loose your initial investment. You generally don't want to add to something - diversify. Mutual Funds don't have interest. You should not be buying municipal bonds but rather closed end funds like FPT. Can but more shares but a new transaction. would also have to start a new CD but cds are not investments anyway. Just a place to store short term money & they are even bad at that. Don't worry about about details like adding. open an investment acct and build it with index funds, etfs, and closed ends. Make money vs thinking. Start Ira at a broker if don't have 1 and can pit the above investments in there. |
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