How to Invest 10000 Dollars in 2015 and 2016by Moonlight Wealth Seo Expert
Okay, so let's say you have ten thousand dollars to invest. Let's go further today that you need to make the money back quickly.
But first make sure that the money is disposable and you don't need it for everyday use (or for bills).
If you want to see what I would suggest you can scroll to the bottom to find what I consider a solid investment.
But here are a few options to consider:
Mutual funds and exchange-traded funds (ETFs) are a good way to get started. Wealth front is perhaps the largest and fastest-growing online financial advisor in the industry.
Based in Silicon Valley, Wealth front was the first to reach $1 billion in assets under management (AUM), and they did it in just two and a half years. Wealth front has removed all commissions and account maintenance fees, by charging just 0.25% of AUM in your account. And the first $10,000 is managed for free.
Tim Ferriss, notable author of The 4 Hour Workweek, has an investment fund. The minimum investment is $1,000, but his typical investment is $10,000.00.
Beginner investors can purchase a major index like the S&P 500 via mutual funds or ETFs. This ensures you’re diversified across a large group of companies and sectors. For instance, the S&P right now is made up of Apple (NASDAQ:AAPL), Exxon Mobil (NYSE:XOM), General Electric (NYSE:GE) and other well-known companies across a wide range of businesses. You can buy a little bit of all those companies by buying the entire index.
Boost 401(k) Savings
Boosting your 401(k) savings is a great idea, especially if your employer matches contributions. Say your employer matches your contributions up to 5% of your pay, but you're currently only contributing 3%. In that case, you're essentially forfeiting 2% of your monthly salary. Consider increasing your contributions at least up to the company match. The contribution limit for this year on 401k plans is $17,000.
Start a College Fund for Your Children
You may also want to take your nest egg and invest it in your child's college fund. Your best bet is a 529 plan. The cost of college is staggering, and anything you can do to help pay for these expenses can help your children lessen their reliance on student loans. Depending on where you live, you may be able to deduct your contributions on your state income tax return.
Increase Your Mortgage Payments
Say you're 10 years into a $200,000, 30-year fixed mortgage at 6%. Bumping up your payment by just $100 could save nearly $19,000 over the life of the loan, and you'll pay off your mortgage almost three years earlier.
But to read my recommendation click on the link below:
Created on Dec 31st 1969 19:00. Viewed 0 times.