How do Dummy's invest?

I need to make money quickly. I don't have good credit and I don't have a lot of money. I have about $50 to spare a month. I've heard mutual funds are a good way to invest with a small amount of money. How do I get that started? When will I start seeing return on my investment? What is the best mutual fund to invest in? HELP!!!

A better question is "How can I invest my money and my time so that I achieve my personal goals?"

I guess go to Vangaurd. They have a good reputation and low fees. Yes, get mutual funds (moderate aggressive)

Until you get some experience, I would HIGHLY recommend using a company such as T. Rowe Price, Vanguard, or Fidelity. All are highly respected companies that offer no-load mutual funds. All offer very attractive funds with great returns. I use TRP, and have no complaints. Good customer service, ease of investing, and great returns. Check TRP's historical performance of their international and domestic funds in the link below. $50 per month is plenty to get started. My favorite funds are: PRASX 88% 1 yr return, PRLAX 71% 1 yr, PRASX 48% 1yr, and a Dreyfus fund, DPCRX 142% 1 yr.

Whatever you do, START NOW and invest often!!!




I have to also agree with what Common Sense said. The most important things are to do your own homework, invest on a regular basis, and have patience. I'm a stage where I'm completely comfortable with the aggressive investments I have. I have confidence in the investments I have with TRP, and expect them to do well for quite some time, but I still keep an eye on things, ready to make adjustments if necessary.

Along with having an account where you can easily access your money, you should also focus on paying down debt, and improving your credit. Best of luck. Stay focused. I started out with no savings in my early 20's, invest weekly, and now I'm extremely happy with the savings accumulated. You can do it too.

Dummies invest in mutual funds.
Dummies get help from an advisor.
Dummies don't try and do this themselves.
Dummies add money each month to their investment.
Dummies understand that it takes time to see a return and that there is no quick fix.
You are not a dummy!!
Visit my site listed below and do it right!

"Asset Allocation" starts with an emergency fund. Do you have a high earnings savings account with at least 3 months "income" in it. If you don't.... you're making one of the biggest mistakes in financial planning/investing.

Assuming you have this savings account..... Is the $50 a month for investment money you won't need for 7 -10 years? If not....... go back to a savings account.

"Best Mutual Fund".... there is no such thing. "Asset Allocation" (designed by you), taking into account your risk tolerance and time horizon will point you in the right direction.

Read as much as you can on this subject. take a year if need be. But don't start investing based on strangers suggestions on what's "best'..... this is a formula for financial disaster.
Why take advise from strangers whose qualifications and motives can never bee known?

SPECIAL WORD OF CAUTION: Don't chase funds with great returns....... it's likely they'll lose 30 - 50% of their value if they've risin quickly because they're the "hot" place to be.

Many of the "hot" telecommunication, internet and software companies that lost 50-75% of their value (8 years ago)... still have not recovered. Don't be greedy.... Be smart.