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New on investment .. More …?
My husband and I have never bought or traded stocks before, let me say that the outset. Also, I know little about how it works. However, my husband was watching how the markets have been going recently and wants to buy shares now and see what happens. We do not know what to invest in, or placement in line with nowhere to go. It has 401k, but I do not know if I can play with it at all … Can you? I know nothing about investing, so why not talk to me as if I a fool here. I'm looking for all the advice, and I will award 10 points. I'm not letting the voters. Thank you all for your help!
First, repay all debt in the short term. If you have an interest rate credit cards for example, 21% is a tax return without instant 21% per year on your money. Then, if your company has a 401 (k) with matching funds, Fund your 401 (k) for the amount corresponding to the maximum. Money Free is good. If your company does not have matching funds, then fund your Roth IRA at its maximum ($ 4,000). Tax free growth is good. I would with a vacuum, a company with low cost mutual funds like Fidelity Vanguard or T Rowe Price. If you have money that remains after you funded the 401 (k) for the game up, do this step with the extra money. * * If you even more money to invest for the long term return to the 401 (k) and invest in this until you can afford. and you get a basic education in personal finance. You'll get a view of many here, and you will not know who to believe. Well you can believe: nobody will care as much money as you are. Nobody will watch it as closely as you are, especially someone who has multiple accounts to handle. So you get a foundation so that you can whether someone is actually giving you good advice or not. Personally, I recommend "The Only Investment Guide You'll need" by Andrew Tobias. It gives you an overview of everything you need to know (stocks, bonds, real estate, insurance, etc..) Then you can decide if you need a education in anything. Good luck!
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