? asked in Business & FinanceInvesting · 9 years ago

I have $24,000, I wanna know the best way to invest it. I am 22 years old and looking to get out of the Army?

Just looking for the best way to invest this chunk of money. I will be buying a car, but my highest price is 12000. Ideas are much appreciated.

7 Answers

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  • Anonymous
    9 years ago
    Favorite Answer

    buy any of these..

    Rate and Yield are annualized.

    Symbol

    Name

    Rate

    Yield

    ExDate

    GNI

    Great Northern Iron Ore

    16.00

    15.30%

    09/28/2011

    TNH

    Terra Nitrogen Company L.P.

    15.00

    8.80%

    08/11/2011

    ALX

    Alexander's Inc.

    12.00

    3.00%

    08/05/2011

    WPO

    Washington Post Company

    9.40

    2.70%

    10/20/2011

    WBK

    Westpac Banking Corp

    8.18

    7.20%

    05/17/2011

    BPT

    BP Prudhoe Bay Royalty Trust

    7.83

    7.30%

    10/13/2011

    TSP

    Telecommunications of Sao Paulo

    7.14

    24.00%

    03/21/2011

    VIV

    Telefonica Brasil S.A.

    7.14

    24.90%

    10/03/2011

    CEO

    CNOOC Ltd.

    5.78

    3.10%

    09/01/2011

    AGNC

    American Capital Agency Corp.

    5.60

    19.60%

    09/21/2011

    CME

    CME Group Inc.

    5.60

    2.20%

    09/07/2011

    BLK

    BlackRock Inc

    5.50

    3.70%

    12/01/2011

    LO

    Lorillard Inc.

    5.20

    4.60%

    08/30/2011

    SXL

    Sunoco Logistics Partners

    4.86

    5.10%

    11/04/2011

    KMP

    Kinder Morgan Energy Partners LP

    4.64

    6.00%

    10/27/2011

    PTR

    PetroChina Co Ltd

    4.54

    3.60%

    09/07/2011

    MSB

    Mesabi Trust

    4.48

    15.70%

    10/26/2011

    NS

    Nustar Energy L.P.

    4.38

    7.90%

    08/05/2011

    SDT

    SandRidge Mississippian Trust I

    4.27

    17.10%

    08/11/2011

    SBR

    Sabine Royalty Trust

    4.23

    6.40%

    10/13/2011

  • 9 years ago

    You need an emergency fund. Yes it will earn virtually nothing (and in a way, lose money due to inflation), but you need to keep the majority of that $$$ safe. They say you may need up to 12 months of living expenses set aside liquid, and it's best to know how much you need to live on as a civillian before you put anything in a riskier asset. And investing is about taking on risk.

    As far as a car goes, it is one of the worst investments a person can make. It loses a huge portion of it's value the second it leaves the lot. Look for a quality used car, and the less you pay up front, the more you can stash in your fund. (Having an emergency fund is more important then avoiding auto debt).

  • 9 years ago

    Equity is one of the best place to get high returns for our money .Generally people who are ready to take high risks especially young people

    can invest in equity which can yield them 15-17% if planned properly.

    Before starting one needs to read the market carefully for some months and be aware of the things happening in the world to know about the

    future of market.As market reacts to these news very much as people are emotional often than thinking about future.

  • 9 years ago

    After you buy the car, you will be left with $12,000.

    Do you have a job waiting for you?

    Do you know anything about investing?

    Will you be getting married soon?

    Suggest that you leave the money in a bank account until

    you are settled down and you know which way is up.

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  • 9 years ago

    Do not get out of the army. My dad is 46 and is a Col and is earning a lot of money. So save up.

  • Sam
    Lv 7
    9 years ago

    I agree with others that you need an emergency fund available before investing.

  • 9 years ago

    Consult your local banker or other investment person.

    Source(s): been there, done that
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