Posted by admin on 16 Jul 2008 11:12 am. Filed under Personal Finance.
mikevonarx asked:
I am 23 and have some extra money. What is the best way to invest my money? I am wanting to know what is best for a quick return and what is best for a long term investment.
7 Comments to “What are the best investments for a 23 year old?”
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shana said:
On July 18th, 2008 at 4:12 am
buy a older house fix it up sell it or rent it then with the money you make do it again and again then youll be making some good cashola !!
snipaers said:
On July 18th, 2008 at 5:46 pm
swisscash and eaindex
Nathaniel C said:
On July 21st, 2008 at 6:46 am
save up money so you can buy nice stuff that’s what i would do.
Laissez-Faire Guy said:
On July 22nd, 2008 at 7:14 am
Really too vague of a question to give you a real answer. How much money? Do you have an intended use for this money? For what time frame did you want to save/invest before using the money?
nexusmoon said:
On July 24th, 2008 at 4:24 am
Dont go for the quick buck and stay away from hot stocks. There is no such thing as a hot stock. Read as many books on investing as you can. I recommend “beating the street” by peter lynch. What is some money? A lot of mutual funds start at 100k minimum….
The best investment is self education.
Don’t let others decided what you should do with your money. Get advice but always keep the final decision in your hands.
dan h said:
On July 27th, 2008 at 12:08 pm
Either max out your 401k, or put it into a Roth IRA or both.
Ethan J said:
On July 30th, 2008 at 11:18 am
There are 4 ways you can increase your income / net worth.
1. Own / partner in business
2. Stock Market Investing
3. Real Estate
4. Career or “W-2″ job
You can use the money you have as a direct investment into the first three. The best investment for you will depend on your individual situation. The critical question is “How much risk will you accept without being emotionally tied to the initial investment?”
However you decide to invest, utilize your talents whenever possible. For some people that means reading stock charts and finding value. For others it means financing real estate. For some it means starting a business.
There is also a good article at the bottom of this page -
On July 18th, 2008 at 4:12 am
buy a older house fix it up sell it or rent it then with the money you make do it again and again then youll be making some good cashola !!
On July 18th, 2008 at 5:46 pm
swisscash and eaindex
On July 21st, 2008 at 6:46 am
save up money so you can buy nice stuff that’s what i would do.
On July 22nd, 2008 at 7:14 am
Really too vague of a question to give you a real answer. How much money? Do you have an intended use for this money? For what time frame did you want to save/invest before using the money?
On July 24th, 2008 at 4:24 am
Dont go for the quick buck and stay away from hot stocks. There is no such thing as a hot stock. Read as many books on investing as you can. I recommend “beating the street” by peter lynch. What is some money? A lot of mutual funds start at 100k minimum….
The best investment is self education.
Don’t let others decided what you should do with your money. Get advice but always keep the final decision in your hands.
On July 27th, 2008 at 12:08 pm
Either max out your 401k, or put it into a Roth IRA or both.
On July 30th, 2008 at 11:18 am
There are 4 ways you can increase your income / net worth.
1. Own / partner in business
2. Stock Market Investing
3. Real Estate
4. Career or “W-2″ job
You can use the money you have as a direct investment into the first three. The best investment for you will depend on your individual situation. The critical question is “How much risk will you accept without being emotionally tied to the initial investment?”
However you decide to invest, utilize your talents whenever possible. For some people that means reading stock charts and finding value. For others it means financing real estate. For some it means starting a business.
There is also a good article at the bottom of this page -