Money Talks: 3 Places to Put Money This Year
Fri, 21 Jan 2011 13:20:35 GMT —
While certainly not out of the woods, our economy has shown some signs that it's on the mend.
If that's true, is there money to be made? Here are three places you might consider putting some long-term savings this year. None are without risk, but there may be some reward.
First place? Stocks. While the stock market has rebounded a lot since it hit bottom back in 2009, it's still well below the where it was back in 2007.
But remember my rule of thumb for investing in risky stuff - take your age from 100: that's the percentage you might consider for your long-term savings. So if you're 30, up to 70%. But if you're 70 - no more than 30%
Another place that might be rewarding is real estate - while housing prices aren't expected to bottom until later this year, now might be a good time to start looking.
If you're handy, real estate can be a good place to earn sweat equity. It's also a good to generate some tax deductions. But if stocks and real estate sound too risky, here's a safe place for your savings this year:
Use them to pay down debt. Remember, paying off a 15% interest credit card is like earning 15% tax-free and risk free.
There you have it - three investment ideas to consider this year. But there's more - in my next report, 3 places to avoid putting money. Want to see what I'm doing with my money? It's all right here at moneytalksnews.com.