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.
- JenniferLv 64 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.
- JudyLv 74 months ago
invested in anything fairly safe, you might average making $60 a year, maybe a lot less
- tiescoreLv 64 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.
- SumDudeLv 74 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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- AmbistomaLv 74 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).
- babyboomer1001Lv 74 months ago
Savings IS an asset.
- Anonymous4 months ago
Not enough, keep saving.
- 4 months ago
lease option a home then sell it for a profit