Q&A: what is the best way to start investing on a fixed income?
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Q&A: what is the best way to start investing on a fixed income?
My wife and I are both on Social Security.We dont have alot of money,but enough to invest to 0 each month.We are in our early 40′s and would like to have a little nest for the future.I am very green when it comes to investing.I am a little leary about investment firms. I have heard some bad things.Dont know which ones i can trust.I would like a deversified portfolio just dont know how to safely deversify it.Also could you recomend a good book to get me started in understanding the investing world a little better.(stocks,bonds,mutuial funds,401′s,Ira’s)ect…A little advice would be greatly apriciated. THANK YOU TRENT& GINA. SAC, CAL.
ANSWER:
Answer by Steve M
The best place for advice on investing is Money magazine. It free at the library.
Answer by tellme
BUY REAL ESTATE…especially now while the prices are down!!!!
Answer by kurtbiewald
if we wuz sittin around sum evening wit sum beer , I could see wut you wanted and cud say maybe what 2 tyr
Answer by greendonkey34
Who isn’t on a fixed income?If you make 15.00 an hour or a million dollars a year that to me is “fixed”.
Answer by jit bag
investing in your 401(k) is a great idea, because they will take the amount out of your salary before taxes are taken out, so you get a little bit of money invested which would have otherwise gone to the state or fed.
if you are leary about aggressive investing, try putting your money into a money market (very stable & ok rates) or into CDs (very conservative but guaranteed returns).
you can also open an online savings account. all of the big banks are currently offering them (hsbc, citibank, ing, etc). i currently have one with ing direct (www.ingdirect.com) & am getting a return of about 4.75%
read investing for dummies – classic yellow dummies book, which will simplify everything for you. good luck!
Answer by Keith
The BEST website is the Motley Fool, it explain things in an easy to understand tone. One of the options they suggest for someone to invest with a little per month is direct investment with a company.
Answer by Scarlet
Certificates of Deposit with a high interest pecentage yield.
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