[liciawest08]

My question is what do I invest in. And how much money do I really need to make a good investment. And also my credit score isnt really good right no and i want to invest in a house next year how can I build my credit score.

[Cliffie]

You build your credit score by paying all your bills promptly and getting rid of any outstanding debts as fast as possible. If you already have a credit card, use it and PAY IT OFF PROMPTLY. A great book full of basic advice on this whole subject is here.

Real estate is a great investment right now because so many places are going for a song after foreclosure. Seriously, you can buy some foreclosed properties in nice areas for the price of a new motorcycle.

If I were you I would start putting small amounts away in some sort of well-rated mutual fund, either towards retirement or for seed money for other investments like real estate.

[Sparrow_temp]

If he's going to invest in a house in a year -- I'd just forget about mutual fund investing this year. The market has gone up but is volatile -- he could just as easily lose money in a 1 year time frame. Just save money and pay your bills on time for now until you want to put your savings into a house.

[Cliffie]

Originally Posted by Sparrow_temp

If he's going to invest in a house in a year -- I'd just forget about mutual fund investing this year. The market has gone up but is volatile -- he could just as easily lose money in a 1 year time frame. Just save money and pay your bills on time for now until you want to put your savings into a house.

Well, if there are any savings to start with, maybe a 1-year CD is a good alternative.