Friday, July 30, 2010

Building money...advice please?

What is the best way to make $2000.00 grow in a bank....please give me explanations of what is best %26amp; why it is best.





Thanks Guys!!Building money...advice please?
Most mutual funds require a $2500 initial investment. Some retirement accounts can open for $1000.





Gold and gold mining stocks are intelligent choices at this time. Basically, the government bailouts inflate the money supply which devalues the dollar against hard assets like gold.





Here's an example of a mutual fund screener:


http://screen.yahoo.com/a?cc=%26amp;nm=%26amp;proy=%26amp;鈥?/a>





Mutual funds have some level of diversification. You can achieve greater diversification by choosing funds which focus on different sectors.





For example, some funds focus on China and others focus on Oil and Gas.





The market will do well for about 2 months but don't let that fool you. The overall trend for the US economy is negative.





The problem is that the government does not create wealth. It transfers wealth from the productive to the unproductive, from the thrifty to the careless.





Try to think like Warren Buffett. He avoided the dot com bubble. He didn't lose a penny on Fannie Mae. He is now buying distressed companies at bargain prices.





My best answer for $2000 NOW is visit a coin dealer. Choose some gold or silver coins. When you see a trend for oil or coal or solar, cautiously move from gold coins to an ETF or mutual fund which focuses on that sector.Building money...advice please?
Its not going to build in a bank, even after thirty years you wouldn't even double the money! Invest in a mutual fund.
At the moment, there is no way to grow your money in the bank. Even CDs are very low. The best rates are at INGDirect, an online bank. Their website shows their 18 month CD is at 4.5% for the moment.
In a bank the best way to make it grow is though CDs but with $2,000 though a CD account is going to have interest amount that sucks
buy gold for safe and good returns in future

No comments:

Post a Comment