Question by : What do I invest my €15000.00 in?
I’m 30 years old, I’m a man, and I’m fairly poor right now (€400/mth), but I make do, live a bit off the land, on the countryside of France.
I might get around €15000.00 in the next few months, and I don’t know what to do with it.
I’ve always waited for an opportunity like this (well maybe a bit bigger) to get the hell outta dodge, and buy a small business in a beautiful country.
So? What to do? Do I buy a Café in Belize? Open up a scuba shop in Thailand? A scooters rental in Greece? (like in the Bourne Trilogy) What are my options to max my profits? Do I have any? :-/
Thanks for your input.
Answer by money
Does that mean that ONLY the interest minus taxes, and NOT the principal amount invested in a Jumbo CD goes to your Roth IRA? Will that interest have to be less than $ 5,000 a year?
Also, must the first initial deposit not go beyond $ 5,000 when you open a Roth IRA in your 20s? Can you own more than one? Is it better to open one with a brokerage firm rather than a bank? Will they give you better advice and choices? Are they FDIC insured? Are there monthly fees?
Lastly, what happens if you don’t invest your yearly IRA contributions? Will it just grow on interest like a savings account? TIA! ü
ROTH IRA is after tax money, so anything you earn will be TAX FREE after 59 1/2 years old.
You have no limitation on your interest you earn in your ROTH IRA.
For example, if you put 5000 in Roth IRA in 2010, you earn 10000.00 in your return if you are good, so Roth IRA in 2011 is 15,000.00. You put 5k in 2011, so your account is 20k and if you earn 5k in 2011. So your account is 25,000.00. and THE PROCESS CONTINUE years after years, that the purpose for retirement saving, keep the account growing untouch.
IRS is only allow maximum for the ROTH IRA is 5000 for 2010. additional 1000, call catch-up contribution for 50 years or older.
I suggest open Roth IRA in brokerage account, give you more freedom to choose investment choices like BOND, CD, Mutual fund, ETF ( which you could Buy Gold), REITS (realestates TRUST), individual stocks.
A lot of brokerage waiver monthly fee. They may let you initial 500 deposit. and you could deposit any amount you want until the MAX is 5000. If in 2010 you could only afford put in 2000. put it in 2000. The Max is 5k, but anything less than 5k is still okie.
You could open and put in any amount up to 5k/year.
Hope you put the money in and consitently so you will be millionaire by the time of 62.
What do you think? Answer below!