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Keep it in a good old-fashioned no-fee savings account. And keep adding to it as much as you can. Whenever you get a refund, gift, some 'extra' money.. put it in there. At least you'll be getting SOME interest. Then when your checking acct gets low, you can dip into it for emergencies. But keep adding to it. I really feel that everyone should try to keep $10K in savings if you possibly can. Then anything over that, if you feel comfortable 'gambling' on investments, go for it. But make sure it's a SECURE fool-proof investment where you will at least never lose the original amount you invested (unless you like losing money..) Better to play it safe & slow, instead of getting all giddy and losing it all.
Put your $10,000 in LOW COST/FEE mutual funds such as Vanguard. Typically, $3,000 is the minimum to purchase a fund from Vanguard. The Star fund minimum is $1,000 though this fund may not be something you're interested in but many young first time investors and people already in retirement invest in this fund.
Start investing in your retirement no matter what your age is.
Make sure you have an emergency fund (3-6 months worth of expenses) first.
Then maybe buy some high dividend stocks like Philip Morris Intl...you have seen how much Asians like smoking.
This. I was going to say split the money between 2 or 3 solid dividend-paying stocks. PM, ExxonMobil, Coca-Cola, IBM, P&G, McDonald's, Monsanto - all good choices. Take a look at the stock holdings in this Vanguard fund. Every one of the companies on that list has not only paid, but increased their dividend every year for at least 10 consecutive years. A few have done it for 50+ years. Any stock in that fund - or the fund itself - is a safe bet.
On Asians smoking, LOL its unfortunate, but China National Tobacco has a decisive monopoly on that vast market, a roughly 97% market share and 900 brands of cigarettes. The Chinese government probably makes a sizable share of their revenue off tobacco. I doubt they're going to share that with us Americans anytime soon.
i would say once you have your emergency fund take 1/2 the money and put it in something like vanguard wellesley and see how your risk tolerance picture looks.
once you got a feel for what you can tolerate and sleep through then you can decide how to really invest the money.
i wouldnt recommend any individual issues until you get your feet wet, understand how to evaluate individeual issues and understand just what your own goals are .
unless you have enough money to buy enough individual issues to diversify risk my opinion is youe speculating not investing at this point with only 10k..
when your 1 or 2 issues miss earnings by a nickle and plunge 20% before you can even react you will understand better what im saying.
put it in one of the high dividend etf,s from ishares , the american based ones are not paying that much but the european ones are paying over 5% , VGK which is the vanguard europe has a very low expense ratio and gives you exposure to major bluechip companies in the uk , germany , france , the netherlands and switzerland , unlike in the usa , europe is still cheap , you must take a long term view however , europe will stumble for a while
Keep it in a good old-fashioned no-fee savings account. And keep adding to it as much as you can. Whenever you get a refund, gift, some 'extra' money.. put it in there. At least you'll be getting SOME interest. Then when your checking acct gets low, you can dip into it for emergencies. But keep adding to it. I really feel that everyone should try to keep $10K in savings if you possibly can. Then anything over that, if you feel comfortable 'gambling' on investments, go for it. But make sure it's a SECURE fool-proof investment where you will at least never lose the original amount you invested (unless you like losing money..) Better to play it safe & slow, instead of getting all giddy and losing it all.
Ever hear of something called "inflation"? Not the inflation the government tells us about. They leave out food and fuel.If they didn't, inflation would be up around 3%/yr. A good old-fashioned savings account right now is paying less than 1%/yr. Only keep money in a savings account for short term liquidity, ie emergency funds for as long as it would take to liquidate funds that stay ahead of inflation, when needed.
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