Using Money to Make Extra Money? Investment?
said:
My family’s savings is now slightly over half a million SgD(singapore dollars).
well i believe it’s a reasonable amount to start making efficient and productive use of that amount at this point of time.
I’ve been to many ‘money-making’ or financial seminars lately. the successful investors usually advice me not to keep money on the bank stagnent but instead use it for investment and etc.
right now i dont know how to make extra money out of that savings besides the annual bank interest.
Can someone please provide me with tips on using that bulk amount to make more money??
i’m considering on gold and rice stock right now..
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be careful when investing there are a lot of scam out there that will rob you blind.
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It sounds like you are not yet ready to invest your money and are more likely to lose it. Commodities are not a good idea. The stock market is good, but you need to study the underlying principles first to know what you are doing. People who rush in, lose. I lost half my investment when I first went into stocks because I did not think long and hard enough (I later earnt a lot more). A good starting place is to read the ideas of Warren Buffett. We are not currently in a good trading environment, be careful.
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Stock Market is good ioption if invested wisely and with open eyes. It also requires lot of patience.
Fixed deposits are safest way to invest.
Dont go in for one option only. Make combination of these two. Divide your money as per your risk appetite and your liquidity need.
And if you are not able to decide on to how much you invest in stock market and how much in Fixed deposits in bank… then simply go on with 50-50% logic.
but Ideally for a Novice to Stock Market it is advisable that you invest 40% in Stock market and 60% in Fixed deposit.
Over a period of time, with experience as you gain confidence in stock market trading then you can re-shuffle your investments as more in stock market and lesser in fixed deposits.
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You could invest in someone’s business. Your returns would be much higher in comparison with the bank rates.
I have invested in my friend’s small business and now I am getting guaranteed 40% annual interest.
I wish you success!
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Invest in the internet. A few made HUGE bucks with the .com rush, try out the new .com, .ws.