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I'm 22 with a full-time job, what kind of long-term investments should I look into? |
I'm 22 with a full-time job, what kind of long-term investments should I look into? That is a question that will mainly need to be answered by yourself. What works for one person may not work for another. On the same note what works today might not work tommorow. A lot of people lost all of there 401k retirements during the last stock market crashed after the dot com bubble burst and they now have nothing. Surely don't putt all of your eggs in one basket like a lot of people had during the crash. A great investor always looks to maxamize their returns, never stops learning about the markets and doesn't always follow the crowd. Read anything by Ben Stein and invest accordingly. if your company has a 401(k) and does a match - maximize your match potential in that 401(k) first. After that, you should consider Roth IRA's and you can find these at T.Rowe Price or other large mutual fund companies. Pick funds with a heavy balance of stocks because of your age. Good luck! First get your self out of debt. Come up with a plan/budget to get your credit cards and any loans paid off quickly. Sign up for your companies 401K program as soon as you are eligible, be sure you can keep you budget for getting out of debt. I suggest seeking the advice of a professional, the average cost of a planner is about $200 a year well worth it. djvcpa had some good advice. In addition to a 401K or a mutual fund, you might want to look into real estate (a house for you) rather than renting. Build up the equity now while you are young. Look into an IRA (individual retirement account). Your are never to young and the earlier you start the more you will retire with, maybe even millions! 401k's are a positive thing at your age. Also I am in Fidelity benefits if your company offers it. in addition to what Mr.djvcpa stated you are young enough to have your funds invested in the world market. it is risker but for a long term investment the rewards would be larger then just the US stock market. mututal fund balance arbitrage hedge commodity Hi, i recommand you a good and basic tutorial for investing. it covers all Issues related to your Investing and everything around it. Go here, Invest in VERY strong and good company. First, pick stock that consistently perform 15% earnings growth (EPSGR) as well as return on equity (ROE). This business is about to explode. Its a worldwide company that is just getting started. They are growing so fast you wouldn't beleive it. The product is amazing as well. Dont miss this wave. |
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