Say I have an extra $5k to invest for the kids. Do I put it in a 4.25% HSBC savings account or set up a 529?
Answers: Definitely start a 529 plan for the kids, like the others said, if this is not money you will need to use in the next decade. The savings/earnings grow tax deferred, and if you invest aggressively (depending on how soon the kids need to spend on college), e.g., stocks, international stocks, small stocks, then this is a relatively quick way to save. And, out of sight, out of mind. You can't touch the money until the kids are in college, so you won't be tempted to play around with it.
Also, in a tax deferred plan like a 529 (or 401k* or 403b* retirement accounts), you can move the money into different asset classes without a tax consequence. For instance, when the kids get closer to college age, you will want to lower the allocation to stocks, and raise the allocation to fixed income, so your total asset pool is more predictable for the next 5-8 years, whatever you need.
That's great you're planning for your kids!
* I just mentioned the 401k and 403b retirement accounts for other readers - those are not substitutes for the 529 for the college savings. I think you knew that already, but wanted to clarify. :)
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if you have high risk appetite invest in stock market.
if you have no other saving keep it HSBC at least capital will in tact.
best of luck.
If the kids are 5 or more years from college a good 529 plan might be the answer. Some states give a tax credit for 529 plans - but many states have plans that have poor investment choices. You don't have to invest in your state's plan but if it has a generous tax deduction you have to take that into consideration.
Look for plans that offer Vanguard, Fidelity, or T.Rowe Price funds. Money Magazine usually does an analysis once a year so check it at the library.
Stock Investments?
Years ago we played the stocks a little and did comparatively well, made adequate to build a large postscript on the house with minimal investment, we get lucky. I have not followed stocks lately and am interested within purchasing some stocks around the 12-25 dollar range per share. Anything hot out in attendance?Answers: May I suggest going to:
low-cost-stock-recommendations
.com
Free analysis on many different stocks.
Don't bring back to aggressive with your money.
A fool and his money are soon part. I am the poster child for that saying.
Good Luck
ABK is pretty hot...it have fallen surrounded by price quite a bit.
CAT is outside your field, but its growth is very steady, and would be a great long-term bet.
NSTR is a have a flutter, but it is trading below its cash. If and when it springs fund, the gains will be monstrous.
This is NOT the time to be buying stocks.
What does the phrase "cover your shorts" mean? Is a bet for or against the market? Thanks!?
Answers: It is indeed buying those stocks you have sold short because you think the market is headed higher.
shorts rule in bearish market
long rule in bull market
cover your shorts in transition phase of market moving from bearish to bull.
it indicates that market gives run to bear to cover against possible (or definite) bull run.
situation is for bull and against bear.