What's the best company to invest a small amount of money into and have a decent profit in 6months or a year?
I have an extra 1,600 dollars. I know it isn't much I'm only 25, but I am willing to wait a year or so to make a profit. I have a fidelity account, but I want to know where is the best place to invest?
- paducahbillLv 61 decade agoFavorite Answer
USAA has some good no load mutual funds, I like their Junk Bond fund. www.usaa.com
Also they have a nice wild gold fund.
- 1 decade ago
If you have a small amount of money then commissions will eat you up if you spread your investments out. If you dont spread your investments out then too many of your eggs will be in one or two baskets. Solution: a broker with the smallest commissions. I use Sogo and I recommend them for small starter accounts. They give you 100 free trades to start off with so if you want to invest in say 10 stocks then you would probably pay $100 in commissions at one of the regular places that charge between $7 and $12 a trade but with sogo the trades will be free for the first month. Fidelity charges a lot per trade so if you don't want to hassle with the move just buy an index fund through fidelity for $12 or whatever their commission rate is and be done with it for 6 months.
But if you want to move then go with sogo. Also, sogo pays you $100 if you transfer your stocks from any other brokerage so that's a quick profit right there lol. Bear in mind each time you sell and buy or buy and sell that's a round trip and you pay two commissions since it's two transactions.Source(s): https://www.sogotrade.com/Setup/Default.aspx?rf=39... http://www.fool.com/investing/brokers/compare.aspx
- frohweinLv 43 years ago
no question. A mutual fund employer. shares are the excellent investment for the long haul. the ease of a mutual fund is they opened up the investment for you, so which you do not positioned all your eggs in one basket. i've got been pleased with leading edge and constancy, yet there are a number of to decide on between. those ensue to be very great companies. i think of the excellent wager is to decide on an S&P 500 mutual fund. those are the right 500 companies traded on the manhattan inventory substitute. shop for the backside administration cost! and on no account pay a 'load' it incredibly is a value to get in or get out. there is not any want for that. possibly once you're making your first 20 million funds! reliable success. sluggish and stable wins the race! attempt to place a set volume into your account each and each month. Pay your self first, and on no account touch it. set up a 401(ok) account to your retirement in case you may, because of the fact the money grows tax-unfastened. Use a widespread mutual fund in case you assume utilising the money for, say, a house.
- 1 decade ago
I can tell you where not to invest your money a) do not invest in FOREX because forex is highly margin driven and very risky. It is just matter of days for your 1600 bucks to vanish b) do not invest in ANY HYIP programs, they are all scam. There is no such thing as high yield income.Source(s): experience
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- radio309Lv 51 decade ago
I would buy Nova Gold Symbol HG This stock will go up with cost of Gold. The dollar is going down in value as we over spend. Our BUDS in China are buying gold with our cheap dollars increasing the price of gold.