Anonymous
Anonymous asked in Business & FinancePersonal Finance · 4 months ago

How do I invest my savings into assets?

I'm 21 and I'm verry new to this kind of stuff. I wan't to see if I can turn $1,000 into more money.

8 Answers

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  • 4 months ago

    Invest in an index mutual fund at the bank, of course you will have to talk to a financial advisor, sign papers, and claim it on your income taxes.

  • Judy
    Lv 7
    4 months ago

    invested in anything fairly safe, you might average making $60 a year, maybe a lot less

  • 4 months ago

    1) Invest 6 to 9 months of expenses in a savings account for emergencies

    2) Copies of the Dummies Guides to Personal Finance and to Investing

    3) A spreadsheet program

    From what you learned in the guides develop a plan to build a portfolio of investments that met the financial goals you establish and chart on the spreadsheet.

    • Ambistoma
      Lv 7
      4 months agoReport

      I too recommend those books, but get them from the library instead of buying them.

  • 4 months ago

    Buy something you can sell at a higher price (apples, pencils, lemonade); or buy tools to do jobs (walk pets, shovel snow,,,).

    Source(s): basic business
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  • 4 months ago

    The best investment for a principal that small is in bulk non-perishables. Wait for a good deal on something you're going to eventually be buying anyway (like toilet paper or grocery-store gift cards), then buy a lot of it, assuming you have a good storage place.

    For instance, if you buy & hoard soap when it is 20% off, that is a 25% guaranteed tax-free return, far better than any other investment (except paying off credit-card debt).

    • SumDude
      Lv 7
      4 months agoReport

      That is stretching one's money (a form of reducing expenses / saving); not really investing (although your suggestion is very solid). // regards

  • 4 months ago

    Savings IS an asset.

  • Anonymous
    4 months ago

    Not enough, keep saving.

  • 4 months ago

    lease option a home then sell it for a profit

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