Hi all
I save 100 to 500 bucks a month and looking for options to invest for long term few options I know …stocks would love but have Zero knowledge…gold maybe…anything else?
Noob want to invest small savings every month $100-500 Options?
NoBucks on 15/12/2018 - 21:14
Comments
Thanks the interest rates suck
You're very welcome!
Buy kfc 9 peice deals, after you have ordered say 60 packs at $11 ea stand in the drive through telling people there is a hours wait on the chicken but you will sell them boxes for $16 each.
Profit?
He could eventually buy a portable microwave and reheat every so often. You'd be keeping those customers truly happy by serving hotter food for repeat business. Get a few shirts made up, KMC and expand to surrounding suburbs once word gets out.
You could potentially run into trouble poaching from the drive-thru, don't worry too much - head a few steps towards the main road footpath (off their property) and setup there.Lol
Get an online saver account ie like ing saving maximiser or any other. Wait until got a few thousand saved up then buy a Australian stock like Australian foundation investment company. They have been going for almost 90yrs. Invests on asx, only invests in asx medium/large companies, charges one of the lowest management rates and is a great way to start for a beginner like you to save or learn about investing and the sharemarket. This is also where l first started. http://www.afi.com.au
Thanks that looks like an Avenue
$500 in a savings account would only earn you $10 a year. You'll be better off spending that money on an online course or something more useful.
ROSCA.
Crypto currency. I hear that's meant to be alright.
yeah bitcoin or bust baby
LEGO.
I recently started using RAIZ for small amounts but haven't been in the game long enough to reccommend or discourage it.
Ive used raiz during bad times (recently…) and good times (a year ago).
Would highly recomend either way. If you're young theres no point in putting your money in a bank.Also investing now is a good idea because it has been crap over the past couple of months. This is where you make money. Continual investing softens the blow of bad market conditions. It could obvs turn to crap and we go into a recession but the portfolio it asigns for you is very diverse.
If you do go down this avenue id suggest putting in as much money as possible to reduce the affect of the monthly fee. But again its still totally worth it if you want to invest but have no idea what is going on.
That’s mostly about buying shares in Raiz itself.. rather than using the app. I’ve used Acorns / Raiz for a while. It’s a good way to get exposed to the market without having to buy units in a fund directly. For me it’s good for capturing savings I otherwise would have spent so the slightly higher than average fees aren’t really a problem (and have used the funds for a holiday etc). Most other funds are setup for large investment amounts. Banks also pay nothing.
No, it wasn't about shares. It was about the on-going viability of the company - $900k income vs $3.5mill outgoings. Personally I'd like to see them do well, but keep in mind their financials. But at the end of the day, some small change invested isn't going to break anyone if they go belly up.
$500 is'nt much, you could get shares, but each trade will cost you about $15 to buy and $15 to sell. So you would have to pick good shares to get your fees back.
You could save $500 per month, but not much interest. Putting $500 in the bank is a good way to force yourself to save. At the end of the year you will have $6000
Interest is negligible and you will have to pay tax on the interest.
you can get a $500 forex account and do some currency trading.
I got my $500 to $2000 over a 12 month period. Then I busted on a long silver trade.
pepperstone.com is a good forex trader.Hi Nobucks
I would suggest buying into a LIC regularly over two months since you need a minimum of $500 + $15 brokerage fee. As your income grows you can do it monthly.
You essentially are dollar cost averaging (although this principle is generally done monthly).
Make sure the LIC you choose has been around for 50 years and consistently payed a dividend.
Milton, Argo, Whitefield and AFIC all fit this criteria.
Over time your investment should return 7 per cent annually. Reinvest the dividends for compounding effect.
When you get up to a certain value say $5000 or over a period of time you can choose another LIC to diversify.
My advice is based upon my definition of what long term means i.e. 20 to 30 years. I hope this is what you mean by long term.
Be diciplined, whatever investment strategy you follow stick with it and avoid speculative investments and Ponzi schemes. (An investment is defined by a guaranteed return, you buy a house and you can rent it out or the business returns a dividend consistently for more than five years etc.).
Also read the Brefoot Investor. I have read almost every popular investment book and this one is the best most comprehensive you can get). Educate yourself.
Talk to others about what I said. Be critical. I have no formal education in investing
Peace.
LIC or ETF? Pros and cons?
Any recommended book(s) on share investing?I prefer LIC's over the long term, depending on the investment strategy of the LIC. If the LIC focuses on industrial shares (ignoring mining and property trusts) then I am a fan.
Having said that I do not own any LIC's outside my super. I buy individual companies. The advice above was for someone who wants to invest in the share market for the long term with little or no knowledge.
I like Peter Thornhill's Motivated Money for a good framework and approach to investing. There should be stuff on YouTube if you find it difficult to get his book. Try your local library or get them to get borrow it from another library for you. Save your money so you can buy more shares! ;)
Put it on black
No red
Keep it safe!!!! Term deposits. Mum x