RE How to invest 5 thousand dollars?
I have 5k that i want to invest but it seems like most investor lines/ banks require a min of 10k is there any other way that I could invest my 5k? or what would be a better alternative , i currently have it in a mutual fund but it is slowly increasing i would like greater return (profit) in a short period of time. Or what is the best way to invest this amount of money in the stock market and how does it work thank you
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RE How to invest 5 thousand dollars?
I have 5k that i want to invest but it seems like most investor lines/ banks require a min of 10k is there any other way that I could invest my 5k? or what would be a better alternative , i currently have it in a mutual fund but it is slowly increasing i would like greater return (profit) in a short period of time. Or what is the best way to invest this amount of money in the stock market and how does it work thank you
There are some good answers here and you really need to be thinking about what your long term goals are.
Peer to peer lending programs are nice and the interest is above average, but then again so is the risk. I don't like mutual funds cause they don't have your best interest in mind and the fees may not be that great. However if you don't want to do it yourself them find someone that has a good track record and let them invest for you. Make sure you make time to learn from those that are doing well consistently. Education in investing will pay off in the long run.
To summarize briefly... let some one else invest for you while you are learning to do it yourself. When your practice account is beating your advisors account, then you are ready to take control of your own money.
I would buy a single stock, un-diversified, or invest in broad market ETF. You can open a discount online brokerage account on Etrade or Ameritrade for very low fees. For any of those equity investments, you should prefer high volume-traded stocks. To make it simple, invest in one of the Dow 30 stocks or an ETF like RSP (S&P 500 Equal Weight ETF)
Nearly any online brokerage will allow you to open an account for $500 - $1,000.
Keep in mind that mutual funds are ran by a board of directors and experts who continuously study the market. Consequently, they often do a better job of investing than the average person out there.
The two disadvantages of mutual funds are the fees and bureaucracy. This is where individual investing has an advantage over mutual funds, however you must be very knowledgeable and prepared before putting your money at risk.
Learn the basics of accounting, value investing, and stock market terminology before taking investing on yourself.
in what country?
if in USA, plenty of mutual funds start at 250$.
use a libray to learn easier
ETFs or exchange-traded funds are your best bet. Basically, they are diversified funds that you can buy like normal stock. Do a quick search on ETF brokers and find a best one. And when you're selecting stocks, try to look for ones that are tied to the S&P 500. In the last god knows how many years, the stocks in S&P 500 have made around 6% of profit every year.
I invest with Scottrade. They only require $500 to open an account. Trades are $7 each. They have worked for me.
If it is your only $5,000 put it into the bank and use it wisely. [Avoid bank fees, late fees, interest charges on bills, take advantage of early payment discounts, etc AND pledge $1,000 as security for a secured credit card if you need one. Building a good credit score will save you thousands and thousands in the future.]
^^ and all of that is tax free (except the interest the money earns).
I would put it into an annuity for retirement or peer to peer lending. I am getting 14.69% interest right now.
I have 5k that i want to invest but it seems like most investor lines/ banks require a min of 10k is there any other way that I could invest my 5k? or what would be a better alternative , i currently have it in a mutual fund but it is slowly increasing i would like greater return (profit) in a short period of time. Or what is the best way to invest this amount of money in the stock market and how does it work thank you
