I am 33 and want to start investing for the future. Which is the best way to make money fast?
June 15th, 2010
I don’t have a lot of money to start with. What I am looking for is, who to contact? What company? What type of investments, real estate, stocks and bonds? I have three children oldest is 10 youngest is one, I need to make money fast and bend into a long term portfolio. I know little to nothing about investing, under any circumstance?
You might want to start something that can turn into a full time extra income. How much you make is up to you. Go to:
www.cajuncountrygifts.com/go.cgi?free=6095
This could help you if you would get serious about it.
When you invest in your future you need to know that you make money slowly but surely, you want it to compound over a long period of time, not make it fast. Since you know little about investing maybe you could go to a company like Edward Jones who can help you with these decisions.
You should invest in Real Estate. Then you could build a house (or buy an old one, if so, renevate it) and then sell it for more in an area where the prices are going sky-high or that you think will be the center of attention. You usually make around $20-$40 grand for most old houses, $100 grand for new houses. Or you could try buying a new house and start renting it out to people, and on the long stretch you could earn lots more money. I want to recomend to you a book called “Rich Dad, Poor Dad” by Robert Kiyosaki. It teaches how to invest and get money fast. Also, try reading a few real-estate books. Good Luck!!
i am in the same boat same age and i have two children my oldest is 16 and youngest is 4 so if you get some good advice please let me know and if i find something i will let you know.
The best way to make money fast is to spend less and not lose money in your investments. Pay off all debt first. Begin saving as much as you can into an IRA or 401K vehicle. Inflation protected treasury securities are some good safe investments. Read Fooled By Randomness and The MisBehavior of Markets before beginning any investing.
To make extra income work part time in an entrepreneurial venture. Or invest in a small business. Read the E-Myth before doing so.
ssb
Here is my style.
I put money into 401k and to my college savings plan (529). Both are for longer term and are essentially 60% large cap, with 20% small cap and 20% large cap international.
This is the best long term plan and 33 is not too old, although you will need money soon considering that even public school in today’s dollars will be about 40k per child including room and board. That 120k will need to be raised in the next 10 years unless you want to pay for it over a lifetime. With even decent returns matching college inflation over the short term, then you are probably needing to save $1,500 per month starting right now. Wow is right and I am not kidding. You could set a smaller benchmark like I did and only agree to pay for tuiton and cut the cost in about half. You could also become more aggressive and invest in emerging markets, more tech or small cap and the risk will also increase.
Now for super aggressive. Here goes and it takes some training. Get an E-Trade account, make some basic trades, generally trading on news like I do. Apply for Margin and start reading books on margin and optionstrading. Start with 2k or so and begin investing 1k shots on two separate options. You are talking risk and it is essentially a gamble. Think that you may be betting that Google will fall $100 for instance. If you are right, you could make 30k, wrong and you lose 1k. This is for seasoned traders only so you would have to read lots and have what you believed to be a good hunch.
70% stocks/ 30% CD that you can continue to add to
I would be careful about trying to make too much money too fast – you’ll just end up losing money trying to hit a homerun with a single stock pick. Slow and steady is the only way to make it in the market.
That said, I would suggest buying what the best traders are buying. This is the idea behind the site http://www.top10traders.com – this is a free site that lets you create a portfolio of stocks with $100,000 in “play” money. Each day the site ranks the best performing portfolios, so you can see how your picks perform compared to other investors. You can also read posts on investing from the best traders, as well as share your own investing ideas.
Here are this month’s best traders:
http://www.top10traders.com/Top10Standings.aspx
if u r sincere and honest u can mail me for further ideas.
I have a good ground here in Bangladesh. even if u have no money u can also be a part of my business if u have willingness and honesty.If u wish u can visit my place. hope to work togather.
originalkamal@hotmail.com