Making the Most of Your Money

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If you want to put your money to work for you and keep your debt to a minimum, let’s review some of the most common ways that people invest their funds.  While solid financial rewards are certainly possible, the process can be complicated and sometimes quite risky.

Therefore, since only a relative handful of investments are guaranteed to make you money – and sometimes you can lose the money you already have – speaking with a qualified, licensed financial advisor is always a good idea.  This may be someone at a trusted bank or financial institution, a stockbroker or lawyer at an established company, or perhaps a friend or relative who handles their own money successfully.

Whatever your choice, make certain the individual and/or company has a solid, trustworthy reputation, makes you feel comfortable, openly demonstrates how your money will be handled, and clearly establishes the fee structure.  Most importantly, maintain control over your money by carefully reviewing all advisor recommendations and making all final investment decisions.

Popular Methods to Invest and Spend Money

Savings Accounts are an easy way to make your money work for you by earning interest.  Ask lRetirement Beachocal banks about their different types of savings accounts and the amount of interest offered.

Certificates of Deposit (or CDs), which are offered by many banks, typically provide a higher interest rate than savings accounts.  However, a commitment of dollars (anywhere from $100 to thousands) and time (anywhere from 6 months to several years) is required to earn that higher interest.

While your money is still accessible, in most cases early withdrawal will cause the loss of earned interest.  So before purchasing a CD, make sure you can commit to the entire time period.

Retirement Accounts generally come in two categories:  a Company Retirement Plan or an Individual Retirement Account (better known as an IRA).

Some employers help their employees save money by offering them a retirement plan.  Usually designed as long-term saving accounts that become available to the employee once retirement age is reached, one of the main advantages is that your employer often contributes money and/or company stock to your account in addition to your deposits.

One of the Best Options – Start your Own Retirement Plan with IRAs

These accounts may be opened through your local bank, another financial institution, or through your financial advisor.  There are seveRetirement arrowral different kinds of IRAs, so be sure to understand the differences.  Of course, you may open an IRA in addition to your company retirement account if you wish.

More information about Investment Options and Stocks & Bonds as well as other financial tips is accessible for free at .

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