what is the best way to invest your hard earned dollar?

Question by brittanique: what is the best way to invest your hard earned dollar?
should I consider CD? what type?

I am already setting aside money for 401K so is there other way to get a better interest with your savings account?

Best answer:

Answer by biskio
Option is IRAs. IRA denotes the individual retirement account and can substitute or complement a 401 K. There are 3 varieties of IRAs available: Roth IRAs, Traditional IRAs and Simple IRAs. Traditional IRAs offer you tax advantages whenever you deposit or add money to your account. On the other hand, a Roth IRA offers you the maximum tax benefit when you withdraw money from your account. A Simple IRA is just like a 401K with lower contribution limit, but cheaper and has lesser paperwork.

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4 Responses to what is the best way to invest your hard earned dollar?

  1. L L says:

    If you like to control and manage your hard earn cash, is to learn in real estate investment. It is not going to be out of style and it is hard assett investment, you can own and physical form.

    Instead 401K account, let open another IRA or Roth IRA it is preferrable. Once you have it up then let’s hear more question if you still need help.

    Best of Luck

  2. Lifeseeker says:

    try putting it into business or put it in time deposit at least you are sure that it will never used and it can earn even a small amout

  3. Rickey R says:

    The 401K is the best route to go, but there is nothing wrong with opening another account with another company. I have two accounts with Charles Schwab like company’s, because its all about the compounding interest of investments. I personnally tell alot of people that I would not have a regular savings account unless its for overdraft protection. I would use the online savings accounts such as INGBank and CitiGroup now has one that pays nearly or over 5%. Much better than the .002% at regular banks. Allows your money to be more reachable as well.

  4. fooles.troupe says:


    Jesus Saves, The Devil Invests!