anyone invest money in here?

[50 Proof]

I ask because I'm thinking about investing in a mutal fund, problem is i don't know enough about them to be able to pick one, other than, I want a no load fund. I'm not really concerned with how aggressive or conservative the funds are. So I need to try and figure out how to invest in them, how to pick them, etc. I suppose I could go out and buy a book, but I don't want to do that just yet.

I received a bonus where I work in the form of a VISA gift card. I don't want to blow the money on stupid stuff or even car stuff, so I thought maybe I can use all of the bonus from the VISA card to put towards a mutual fund. Otherwise I thought about adding the visa gift card to my paypal account and paypaling myself the money. Gift cards are stupid.

So if anyone knows anything about investing, your input is appreciated. Thanks.

[GT350R]

Stick with what you already know.

You're already turning a better profit doing what you do already in a week. To turn the profit your doing now in a Mutual fund woudl take 50 years. (basic doubling).

I looked into it to.

I have/am/will do better investing in cars parts. The only reason its not more popular is lack of knowledge which you already have.

Learn from history. Rare cars have rare parts that go obsolete. YOu can buy them right now.

YOu can even go to the junkyard and make money.

Use your money where it is smartest to YOU right now. If I gave you 100 bucks and sent you to the junkyard , I know you would double it in one or two weeks. Ask you Mutal fund salesman how long it would take to double, and how much of a cut does he get?

I have somehwere around 75,000 in parts. I always made a profit, but didnt sell everything.

[Marz]

I let my 403B plan take care of all that stuff for me....

[50 Proof]

I let my 403B plan take care of all that stuff for me....

Is that a form of a retirement plan? What is a 403B?

GT350R made a REALLY good point, thanks. The parts stuff can get discouraging sometimes. Sometimes it takes quite a bit of work to find the part, clean it, sell it, ship it. I'd say the biggest PITA is packaging stuff up. If I had ready to go boxes that didn't need to be customized, I'd seriously put a lot more effort into finding and reselling rare hard to find parts.

[Satanpez]

There's a few good books out there. Whatever you do, FIRST put the money in an IRA or other type of retirement account. Max that out before investing in mutual funds elsewhere.

Library has free books. I bought "Mutual Funds for Dummies" off of half.com because I liked "Personal Finance for Dummies" which someone gave me.

According to books like "The Millionaire Next Door" most wealthy people become that way because of mostly investing. Your right that it doesn't matter so much if you're doing agressive high yield or whatnot funds. It's important than you start NOW and you continue investing.

Mutual Funds for Dummies has good details for which places have No-Load funds and that are good in services, cost etc. Most people I know prefer to deal with Vanguard or Fidelity. I'm going with Fidelity at the moment as they usually have smaller costs to get into funds. (I'm poor)

Unlike going to junkyards and buying parts, Mutual Funds make money while you sleep. Besides keeping an eye on your funds, and dealing with minimal paperworkd, the only work is taking the money out later on in life.

-Steve in NJ

[WHTLTHR79RS]

Corey, the very best return on any money is to pay down and pay off all accounts that charge you interest. Starting with your smallest account, add to the payments and pay it off. Then take the same amount each month that you added to pay off the first account, plus what the normal amount you were paying and apply the new total to the next debt until it is payed off. then take all of those funds and apply to the next one, and so on until the only debt you have is the mortage. Now take the large amount of funds and slap the crap out of your mortage and pay it off...bingo you are debt free and now you have all of those funds to invest in a interest bearing fund. This process forces you to look further down the road than just a few months, but it is a game plan that works very well. The next thing you need to do is to have some kind of home based business that will allow you to take deductions on your income tax. The money you save in taxes each year can be added to your game plan and now you have compounding. The "Rule of 72 " says that if you have $100.00 and you get 6% interest, you will double your money in 12 years. 72 divided by 6 = 12. Read the book.."rich dad/ poor dad" by kiosaki........or PM me, I have lots of nuggets in this arena...

Neil

[Marz]

I let my 403B plan take care of all that stuff for me....

Is that a form of a retirement plan? What is a 403B?



Yes, the same retirement plan teachers and non-profit orginizations get. I tell them what I want, how much I want and where and they take care of the rest. TIAA cref ( http://www.tiaa-cref.org/ ) are the ones that do it for Aerospace corp.