What type of stash do I want:?
I want a savings article that I can take money out of at any time (though I won't until going on for forty years from now), this is a long term stash account. BUT, I do want a clothed interest rate, with $500 or smaller amount minimum balance surrounded by it, and I want to be able to attach money into it at any time to add to it's rate of interest.I'm one and only 15, and my parents said they will get me an side of my choosing for $500 or less, so long as I salary them back when I double it, after it will be mine for the rest of my life, so I can retrieve for my future.
Tell me what I would want. I've looked into a money marketplace account, but I'm not entirely sure on that, that are some downsides to it close to a low interest rate, and almost all are $1,000 or more.
Answers: What you are describing is a money open market account or funds account. Money market make a better interest rate, although still not deeply much with solely $500 in it.
So, you might want to look into disc (certificate of deposit). With this you will NOT be able to hold money out and put money in at anytime...but they usually enjoy better rates. You could get a 1-year disc, during which time you wouldn't be able to tag on or remove any money. Then next year you could achieve a new compact disc (so you could take the money from the first compact disc, plus the interest you earned and any other money you save throughout the year, and then put that contained by the new CD).
If you really want the flexibility at getting at the money though, you will probably obligation a money market.
It will pocket awhile for your money to grow, so be patient. It is great that you are interested within saving very soon...you're off to a great start!
If you want it to be 100% juice (you can withdraw from it at any time) and beside only $500 to start next to, you will probably want to call local bank and credit unions and find out which one have the best rate on savings accounts.
However if you don't mind sacrifice a bit of liquidity, and you truly intend to save this for a long time of year of time and thus can accept a estimate of volatility, ask mom or dad if they have a inexpensive brokerage portrayal online, and if they'd be willing to buy stock for you. I would recommend a apposite, cheap market indexed ETF.
Terri,
What you may want to start next to are CDs (certificate of deposit) or T-Bills (Treasury Bills). You can get them for specified period of time. Same with US Savings Bonds.
What you can do is dance to your local bank and check them out. With some short occupancy investments you can do some research into other forms of investing - like mutual funds.
You're starting out right - looking at long residence investing.
Something you may want to do is read the book The Wealthy Barber. It helped me profusely (though I'm not wealthy as I started investing simply seven years ago - and I have a kid within an expensive college). Also look at the Motley Fool website.
Good luck,
"Ranger"
Hi i want to invest in hsbc emerging market mutual fund ... should i go ahead ... is it a good returning MF..?
Answers: Go to http://finance.yahoo.com and enter the ticker symbol or name of it for its stats.
The rest is too broad to answer.
What are your feelings on risk?
When might you need the money?
What other investments do you have?
Go to http://futurewealthplan.com for more investing basics.
Dear Amit
First of all i would like to suggest you to go for either direct stock markets or ulips (in case u cant allocate time ) because in case of direct market investmt you get hgher returns and in case of ulips u get moderate return with tax benifit.
Now coming to you ques. ya you can go fr hsbc fund but i would recomd to go fr ny icici nfo or relaince natural fund
http://www.intradaymaster.com
Take a look at www.finysis.net for some general investment advice. They give a free course, and sell excellent e-books and software.
Need a stock screener?
I need a stock screener that have alot of criteria to choose from. yahoo and MSN and G00GLE dont meet my requirements.any ideas?
Answers: morningstar.com (free) have great stock and fund screeners...this is a free service I use.
Answered this couple of days ago, see link:
http://answers.yahoo.com/question/index;...