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Best ways to invest my money? |
im in the navy and am 19. i would like to invest my savings somewhere but do not want it tied up for longer than 3 years when i get out. what are some of my best options for this senario For a three year time horizon you do not invest your money... you save it; well...there's always the bank The best way at younf age is stocks and mutual funds, but i dont know being in INDIAN NAVY you can invest in stocks or not. Save the money in the banks till the computer system couldn't print the total amount on your passbook. :P Get an ISA from a building society. They have good interest. Split you saving in four equal amounts. One portion buy government saving bonds; the second portion buy blue Chip stock; the third portion buy sunrise stock (stock that most risk most likely to yeild high income), the last portion go out and spend it. In the UK: Alot of sailor inst in TSP, well i suggset only do that if u plant to stay navy till u retirement otherwhose is big no, cause u can't take u money out till u 60's or face a heavy reduction, but now market saving and CD are probably the good choice for now, citibank now offer 4.5% Navy Federal also high i think is 3 something, CD usually about 4%. |
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