Wednesday, December 31, 2008

What's the best investment possible for your money?

Resolved Question

What's the best investment possible for your money?

I don't want savings accounts because the best rates offered are below the rate of inflation and I don't want stocks and shares because I'm letting a bank profit at an average of 12% with my money and I'm the loser who gets less than 3% return. I want to save a four figure sum every month and have a five figure sum saved already but what can I do with it that will give me the best return?

Best Answer - Chosen by Asker

you go to a top investment consultant (not an accountant) and pay for their advice, and follow it, unlike the majority of lottery winners who ignore it, because they know best, and end up back in the financial gutter within a decade, you will be kept updated with advice for a period of time.
you use a stockbroker service for trading in stocks and shares who charge something like 1.5% of the value on transactions, subject a minimum charge, you can set up a trading account say with hsbc which you manage yourself online, you would need to verify the charges.

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Other Answers (2)

  • Hah, no such thing as "best".

    If you're the hands-off type investor, put it into a growth mutual fund. Else, start a brokerage account and start picking stocks yourself.

    If this is in the US, consider Roth IRA as it has additional tax benefits.
  • Buy a foreclosure, if you're a first time homebuyer Obama will give you a phatty rebate check too!!!

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