what is the best thing i can do if i have a fico of 750 but a low income and i want to invest?
91283
Even with a low income, if you are dedicated to savings, you can begin.\n\nStart each month with adding a new bill.  This new bill is to yourself.  Whatever you can afford.  $10, $20, $50.  Pay your self each month along with your other bills.\n\nOnce you have enough to open an account (each provider Etrader, ameritrade, your local bank or credit union will have a limit) you can begin.  I would suggest mutual funds as it helps alleviate the risk of investing in one companies future.
126822
Get one that makes you pay in full every month (like American Express.) And use it only if you can pay it off every month. Otherwise it is a black hole that will suck your financial house dry. You absolutely must set limits for yourself. People get in $30,000 to $100,000  without even noticing. And don't fall for the transfer for 0% scheme. The first time you are 1 day late the rates go to the maximum (over 25%).When you buy on credit you pay more for what you are buying. Why pay more?\nTo establish good credit have no more than 2 credit accounts, never ever be late with a payment, and pay off as soon as possible (not the minimum payment--you'll be a slave to it for the rest of your life). If you do that it makes sense to have credit so you have a good credit rating for big purchases like a car or house that you cannot pay in cash. But the less you spend on credit the more you have to spend without all the interest--or better yet, talk to a financial counsellor or just save in an interest free retirement or investment account. No matter what your age.
1128219
If you pay off a loan that is only 4.75% interest what you are doing is investing that money at that interest rate. In other words, if you get $1,000 as a present and you put it towards your 4.75% loan you are only getting 4.75% return on your money. What you should do is find something that will return higher than 4.75% invest in that and then use the spread to pay off higher interest rate loans first. So if you have money available to pay down debt you should find an investment that will return a rate higher than what you are paying and use the income to pay down the debt. This is how banks conduct their business. Borrow from the savers at a minimum interest rate and then loan it to the borrows are a higher rate. Use the income to pay back the savers and keep the spread.
321453
Buy a $111,111.00 or less house (If you don't have one)\nBuy a $11,111.00 or less car (If you don't have one)\nPay all your Credit Card Debts.\nInvest 50% of the rest on a small business (With the help of a retired CEO of a public company) and 50% of the rest on the stock market (With the help of a Portfolio Manager)
7682
I would suggest that you work with a professional broker or financial advisor - they can recommend funds & stocks that meet your needs.\n\nAsk someone you trust to recommend someone they trust.\n\nI know nothing about stocks & investing, but I've managed (on average) make some money (and not lose it) in stocks, _only_ becasue I have a broker who I can trust.
732179
see a financial advisor\n\ninvest for the long term\n\ndiversify - invest in a wide variety of stocks, bonds, and others, so that if one area tanks, you don't lose everything.
983931
Find out from the government what your overall RRSP limit is (it's part of the letter they send you after you send in your tax return and you can also get it by phone and on-line). Then, contribute as much as you can afford to your RRSP, until you hit that limit.  You'll get a refund that is in proportion to your tax bracket for the money you've invested in your RRSP - if you are in a 30% tax bracket you will get back 30% of what you invested.  Take that money that you get back as a tax refund and re-invest it in your RRSP until you reach your max (which will likely be tens of thousands of dollars).  \nIt's great that you've paid off your mortgage, but you've been missing out on the miracle of compound interest for years and need to start making up for that.\nTake a money management course and get a self directed RRSP account from somewhere like TDWaterhouse and start to invest in a diversified way (no more than 10% of your portfolio in any one investment) and you will be well on your way.  \nAlways remember that no one will take care of your money as well as you will, so don't fall prey to financial advisors who just want to sell you products that make them money.  Keep your MER's low and NEVER invest in a fund with a load!\n\nGood Luck!
1004393
Not much chance of getting one - best best is to try your own bank - they can usually sort something out...  bare in mind - no income, previous problems, dont own house = unsafe investment for bank computer..  you could always lie - a default doesnt mean you wont get one - just that the interest will be higher..\n\nYou could always try a local financial coop - look in your local library.
168979
There is no magic investment out there which is going to provide you with lots of income with little work. Most reputable financial advisors will tell you there are only 3 basic passive investments that most rational people use:\n\n1. Bank accounts and Money Market accounts.\n(These usually barely keep up with inflation.)\n2. Bonds and Bond Funds\n(These currently don't yield much better.)\n3. Diversified Stocks\n(These Average 10% a year but have large swings in price)\n\nMost other investments you hear about are usually of questionable worth.  You can make money in Real Estate as a landlord if you are willing to put a lot of work into it.  Most good financial advisors will not recommend passive real estate investments.  (An exception is REIT's, but they are basically a type of stock)
692766
Odd-Lot stores, Job-Lot stores, 99cent stores, Salvation army stores, Thrift shop, Loot magazine, Craig's list, garage sales, fleet markets...neighbors moving out sales...\n\nand $500 Certficates of deposit bought at the bank every month...one year duration...and renewed at the end of the year. When the year end rolls around and the first comes due...add it to the $500 you use to purchase your CD's and make it $1000 and purchase a new $1000 CD. At the end of five years you will be so used to putting money away it would have become as natural to you as breathing...and it won't even dawn on you that $2500 is available to you at the end of each month. That is called paying yourself. And is independent of your Keogh, Roth IRA's, 401k's and social security money or anything resembling an annuity. It is all these things rolled into one and the emotional satisfaction of the discipline and the fact that you control exactly the money you put away...cannot be beat by anything a broker could swindle you...er...convince you into investing.\nNow that's frugality in my book.\n\nOh, yes...I have no credit cards either. Debit cards take their place. Can only spend what I have. Erma Bombeck is to others what Suzie Ormon is to the frugal.
764359
You ARE unemployed.    Report your SSDI as income on your application and see what they say.  If your credit record is clean and you have a history of paying your debts you could get a credit card with a low limit with just a modest income (typically must be more than $15K)\n\nJust don't use the credit to supplement your income or you'll end up in even worse financial shape.
1062287
Do not spend one red cent of it. \n\n You did not mention your circumstances so giving advice will be too hit and miss.  \nHave you completed your education?  If not you may wish to invest in that.\n\nDo you own a house or are you renting?  You may wish to invest in a down payment on a house, but do not invest in a house larger than what you need.  A lot of people think they have to have a 3000 sq ft home.  Then they complain about the taxes, utilities, and upkeep. \n\nIf you are set in both of those departments but do not have any investment experience, you do not want to go blindly into investing just yet. Put it into a 12 mo CD for the time being and begin learning about mutual funds. They are your safest bet for the intermediate term.  Do not put all of your funds into any one investment. The key to minimize the risk of investment is diversity.  Maybe $10000 in a fund investing in Chinese companies, maybe $10000 in a fund investing in European companies, maybe $10000 in a fund investing in small U S companies, maybe $10000 in a fund investing in large cap companies. \n\n Get the picture?  Always have a cash reserve for emergencies.
70890
Depends on your credit rating, and what you intend to use the money for.  Try your local bank or credit union, and they'll give you more information.
8498
Probably your bank. They can usually open a secured credit card based on the amount in your savings account. It's also the safest bet for you, because it's a place where your money already is, and it's with a company you trust and already have a history with.
1131709
Yes and it depends on what you want to do or what you have to offer. There are even investing opportunities for people who have no money and no credit.\n\nI suggest you talk to an investor in your area and describe your situation to them and they will outline your options. You could also contact me and with a few questions, I can see what fits in your investing strategy. If you just jump into this, you will be overwhelmed.\n\nGood Luck.\n\nRegards...
69078
Go back to work.  Your earnings potential are more than SSI. SSI doesn't give enough to pay the bills. You can work and make more money and invest.
36177
You can open accounts at Vanguard or Fidelity, both have lower expense ratios compared to the competition. Most funds have a minimum initial investment of $2500, unless it's for an IRA. You can set up automatic deductions to buy into the fund monthly.\n\nAlternately, you can buy ETFs (Exchange Traded Funds). There may be an ETF that tracks a specific mutual fund you are looking at. Vanguard has a huge list on their web site. You can buy the ETFs through a discount online broker like scottrade.com or etrade.com. You pay per transaction but the maintenence fees are usually slightly lower than buying an actual mutual fund.