Where to invest $1500?

I have $1500 saved in an ING Savings account yeilding about 4.2%. I want to invest it somewhere else with a higher return rate.

I want something I can manage and see online with the fewest fees possible. What should I look at? Mutual funds? Stocks?

If you want the highest returns in the long term, you need to invest in stocks. However, $1,500 is not enough for you to buy individual stocks because you could not diversify enough with that amount. I would recommend a low fee mutual fund that tracks a broad stock market index like the S&P 500. Your amount will be below many mutual fund minimum initial investment, so you may need to look around.

Check out the Vanguard Total Stock Market Index, which you can buy through an online broker for less than $20. Have the dividends reinvested so your investment will grow even faster. The symbol is VTSMX.

go to www.scotttrade.com

good luck

Open a brokerage account
Buy JAHYX, it pays 7% every month!!

The best is Fidelity.com. They have zero fees. Some funds may have a minimum above $1500 but overall, fidelity.com is the best.

i would just buy a 15 month cd its at 5% now

Do you have any specific goals for your money? There are places where you can invest, places where you can save and places where you can gamble. The amount of money you have collected would indicate to me that you are a younger person. I agree that the savings account at 4.2% isn't enough to keep me interested very long.

Here is what I would advise my son or daughter to do. If you are employed, I'd suggest you open a ROTH IRA for the amount. To do this, I'd advise going to either Vanguard or one of the other NO FEE mutual fund companies and setting up your account through the internet. I would invest $500 in a small cap stock fund, $500 in an international stock fund, and $500 in a large cap fund. Watch your little nest egg grow tax free for the next 40 years.

If you think you can get rich quick with your $1500, then save the brokerage fees involved in buying risky stocks and go to your local casino... Grinnnnn.

First determine specific goals.
Do some research.
Open an account with scott/ameritrade.
And have some fun.

If you are still unsure of what to do, go speak with a financial adviser.

Although, I personally like ING. They have beautifully managed funds.

Can you afford to lose ALL of this $1500? If so then I would invest in an index mutual fund or an individual stock. Although I seriously doubt you'll lose it all, there is that possibility. But if this is all you have in savings leave it where it is - in the bank - earning a boring 4.2%.

Stocks and mutual funds are interesting and somewhat exciting at times (especially when they go up in value). But there are so many forces at work that it is hard to explain why the prices fluctuate.

Check my profile.

Maybe you can borrow to individual people for interest rates over twice the interest rate that you are earning. You become a mini human bank. It's neat stuff.

How old are you? What are you saving for? How long will this money be invested? Please read my profile and email me.

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