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.
- Anonymous9 years agoFavorite Answer
buy any of these..
Rate and Yield are annualized.
Great Northern Iron Ore
Terra Nitrogen Company L.P.
Washington Post Company
Westpac Banking Corp
BP Prudhoe Bay Royalty Trust
Telecommunications of Sao Paulo
Telefonica Brasil S.A.
American Capital Agency Corp.
CME Group Inc.
Sunoco Logistics Partners
Kinder Morgan Energy Partners LP
PetroChina Co Ltd
Nustar Energy L.P.
SandRidge Mississippian Trust I
Sabine Royalty Trust
- rael ramoneLv 49 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.Source(s): http://sriyahooanswers.blogspot.com/
- ag318punLv 79 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.
- SamLv 79 years ago
I agree with others that you need an emergency fund available before investing.
- postres20022000Lv 79 years ago
Consult your local banker or other investment person.Source(s): been there, done that