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Where should I put a few thousand? Safe/accessable investment?

Discussion in 'The Okie Corral' started by alfred10, Mar 14, 2010.

  1. alfred10

    alfred10

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    I want to invest a few thousand into a safe protected accessable area. What can I do other than a saving account with it? Are there any accounts that dont require you to pay taxes on it? Where can I get decent interest?
     
  2. agent clark

    agent clark

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    I put a few thousand (3-4) into a Roth IRA every year to get a break on my income taxes. I'm not sure on all the details, but since its money I've already been taxed on, I'm pretty sure I only get taxed on the interest I make when I decide to pull it. I think there is a deal with no taxes pulled if I use it to buy my first house also. Check with investment places, your bank, friends and family that invest, etc. Get lots of info and ideas before you do anything, but good for you that are in the position to do it!
     

  3. omega48038

    omega48038

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    Safe, tax free and high return isn't going to happen in one investment. You can't have it all, or we'd all be rich.

    1) Safe investments will be low return and in most cases, taxable. The tax on a safe ruturn for a couple thousand won't be enough to worry about though.
    2) Tax free options are pretty limited (muni bonds, etc). Plenty safe enough, but low return, long term and not liquid.
    3)High return - high risk and high tax. Speculation is where you make (and lose) real money.
    You could diversify, split it into thirds or quarters and use different investment vehicles for each share. That way some of the money is working toward each of your goals.