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However you decide to invest, do it inside of a Roth. If you do it by april 15 you can put 11k into the roth this year. The rest can be in a regular taxable investment account.
Just in case it is confusing to you, a roth is not an investment, It's a type of account, after you put the money in the account (mainly for tax purposes) then the world of investment options are still open to you.
Given your risk tolerance being on the high side I'd go with stocks. Maybe some us stocks and some foreign or emerging market etfs
Why put it all in one place. Seems dangerous. + 1million on Roth you can get 5.5 by April 15th for the 2014 year. I would start tiered CDs as well, check out NFCU. Also a high yield saving like with amex or alliant, my alliant savings just got raised to .9!
@Anonymous wrote:Why put it all in one place. Seems dangerous. + 1million on Roth you can get 5.5 by April 15th for the 2014 year. I would start tiered CDs as well, check out NFCU. Also a high yield saving like with amex or alliant, my alliant savings just got raised to .9!
GE and Barclays i think are 1.05% now which isn't too bad when you compare to brick and mortar banks. Correct me if i am wrong banks and brokerage houses are only insured up to 250,000 so if want to be careful split up 250k at each place.
stay away from managed accounts of any kind and avoid tech stocks.
Dollar cost average into an S&P index fund every month. Avoid listening to noise like CNBC.
Your index fund will beat 99% of all managed funds over long term. Warren Buffet made a bet with a hedge fund about a few years ago that the S&P will beat the hedge fund performance. So far after 7 years i think into a 10 year bet, the index is easily ahead.
This poster is 19 years old, why in the heck would investing in CD's be the best option here? The only reason you want to do something like a CD when interest rates are so terribly low would be to preserve principal. He's 19, not adversed to risk and wants to grow his principal. My opinion would be to stay away from CD's and Bonds. I agree with the Roth IRA, however, unlike what one poster said earlier, you cannot take distributions at any time. You can, however, take a loan on the Roth IRA (which I would advise against unless its a last resort). I would suggest you get a good index fund with low fees or even a target date fund and let it grow, preferably with adding additional contributions. As there is a 5.5k annual limit, you can invest 11k in the roth and open a brokerage for the rest and invest in either the same or similar index or target date fund.
With little knowledge, I would highly advise against investing in individual stocks, specifically any that are plastered on the front page of CNN Money.