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Looking For A Way To Invest Money and make profit? |
I have about a thousand dollars saved up and i am looking to invest it into something that can hopefully make me more money with few to no risk. so if there are any ideas it would be a greate help Where to put it depends ENTIRELY on what it is for/when you need it, and what your "risk tolerance" is: if you want to use it in less than 2-3 years, you should put it in a high-yield savings account...if you don't need it for anything specific, if you buy an aggresssive growth mutual fund and hold it, it will earn you 12-15% a year (long-term), and will be worth over a million dollars within 50 years. (The same $1,000 put in a "safe" will be worth....$1,000 in 50 years!) I suggest importing gems from a gemcutter and then selling them at a profit here. I buy gems from a cutter in India and then resell them on Ebay. I make a reasonable profit on them. A very, very low risk investment would be to put the money in a certificate of deposit at a commerical bank that is covered by FDIC insurance. Certificates of deposit pay various rates depending upon how long you invest the money for. Given the current interest rates, I would not recommend taking out a CD for longer than 12 months. Open a brokerage account at Zecco and invest in the ETF DDM. |
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