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Being a "go getter"I am a single 28 yr old first time home owner, no debt ,Pharma sales rep90k annual income. |
What more can I do to add to my net worth and to maximize earnings and income. Not wanting to seem greedy, just want to capitalize my flexibility and want some advice. What can I do? Buy another home for investment purposes or invest in mutual funds, dont know what to do?? Thanks in advance! Standard investment advice is that you should invest in a diversified mix of stocks, bonds, and money market funds. You want to buy a diversified portfolio of stocks as individual stocks are too risky. Most folks have a dificult time buying a properly balanced portfolio of stocks on their own. They will misbalance their portfolio by buying all small stocks or all growth stocks, or some other misbalanced assortment of stocks. Unless you know what you are doing, it is best to buy mutual funds. I like Vanguard.com, other people like Fidelity, TIAA-CREF, and DFA. Buy no-load, low cost funds. If you are like most people you will invest part of your money aggressively in stock funds, and part conservatively in money market funds and bond funds. Vanguard has an on-line questionnaire which will give you an idea of how to do "Asset Allocation," determining how much to put in each type of fund. Find a way to take your manager's job away from him, or bettter yet, figure out a way to become his boss. see a goof financial counselor um sorry but totally off topic, could you tell me how you got to make that much by 28? i've been thinking of things i want to do by the age of 30 and you can really help me out with this, sorry i have no answer to ur q. :) buy gold. Don't buy another home. I've heard that real estate should never be used as an "investment" because there are more reliable ways to increase your money (larger increases as well). ugh, i'm jealous lol. u are what i want to be when i'm 28. will you marry me/lol Yes you should definetely invest in some real estate. You should start with a four unit complex that way you can get financed up to 80%, Make sure you do your research to make sure that rent can cover at least 80% of the monthly expenses such as mortgage and maintance. Keep in mind that you should put some money away for major repairs which you will get at least 5-6 times a year with things that can range from a couple hundred to a couple thousand dollars. Overall your investment can bring you plenty of future income. A comercial building will not increase in value as fast as a single family residence but you can always count a demand for it and making some serious money after 5 years. You should also consider getting some mutual funds. Depending on where your are located, real estate wholesaling is great right now. Buy a short sale at 55 sents and sell it a 65 cents to an investor. You make 10 cents onf the dollar in less than 60 days. On a $300,000 house that would mean $30,000. We are doing alot of them here in California. If you need information where you can learn about that email me. I don't think mutual funds are a good choice right now. We are due for a huge stock market crash. If you want to learn about htem, see if your local college has any classes. Not a good idea to buy units, they have not been a good deal for years. The rental income need to be at least 15% annual of the sles price. Also, not a good idea to keep any properties. Thisn are going to get way worse in 2008. Prices will keep dropping. The best to invest is in the euro against our dollar. Our dollar has lost over 100% in the last three years. congrats on the income, but you need to tell us how much money you are working with to invest. you obviously dont want to take a big loan on a piece of real estate, because that is risky and collecting rent on it wont be as much income as u think when your paying a lot of interest on it. real estate is almost always a good investment, but you need to find a good place to invest. mutual funds are always safe and return on average 5% a year. I recommend investing in both if you have money so you have a diversified portfolio. Hi, It sounds like your on the ball. Why so bumbed out. A date? Don't worry so much. Hell, just get out and meet people. Just people...not girls to date. It will happen. And watch out for the gold diggers. Do something you are interested in and you will meet people who have similar interests. Girl's included!!! |
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You should learn more. The LA Times has an excellent introductory site to money and investing called the Money Library (free registration required). Until then, you would probably best be served ... If this is your 401k, then keep buying. You are getting more for your money right now. When we get back to a bull market, the values on the bargains you get now are going to soar. It sounds like... My recommendation assumes you are rather young (under 40) and that your 401K does not charge load fees. I would allocate my money as follows. 75% Growth Fund of America 25% EuroPacific Growth F... go to the MFEA.COM that site gives you free morningstar infomation so you can figure out what you want to invest in from your choices you have in your 401K. Most places you do your own investments.... If you really want high risk - high reward, take the $10,000 and buy a seat at the World Series of Poker. ...it is an ira so the gains/loss are not subject to tax leave if be it will bounce back!!! ...Very refreshing to see a young person who understands the value of their 401(k) plan. 7% is a good amount to start with. You're young enough that you want the majority of your money in stock... Are you in India? HDFC Mutual Fund is a Mutual Fund registered with the Securities & Exchange Board of India and hence the entire income of the Mutual Fund will be exempt from income-tax in ac... |
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