Basics Of Investing
August 18th, 2010
Question: What are some basics to consider when investing?
I have a small amount of money I want to invest or set aside I am not sure which (it depends on what is most profitable) but I am completely in the dark about anything investment wise. Should I go the route of a Cd., what is a cd, or should i just drop it in a savings account and then which one?… Thanks for the help.
Answer: Hi, Elizabeth,
What is your purpose for this money?
Long term? To start saving for retirement? Put it into a tax-deferred account such as IRA.
If you want to use it within 5 years, place it into a CD or money market account. You cannot depend on the stock market in the short term.
If you owe money, paying off debt, especially high interest credit cards, is always a good thing to use money for.
best, Rick
Investing Basics Tutorial w/ the Zecco Zirens
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