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investing 101
If Gucci bags were traded on the NASDAQ, most of us would be millionaires…
Investing today can be terribly confusing. Stocks, bonds, 401ks, 403bs, Roth IRA's, day trading!! It's enough to make you hide your money under the bed. If you aren't savvy about making your money work for you, don't feel bad, there are surgeons who know even less than you do. We have decided to give you some basic steps.
Start saving: Many of us live from paycheck to paycheck . Spending our hard earned money on luxury items , when we can barely pay our bills. In this economy experts advise having at least 6 months of living expenses saved. Many of us work for companies that offer incentives to save, yet never make use of it...things like company matched 401k's etc, ESPP's etc. Call human resources and get the 411 on how much your company matches and contribute at least up to that percentage. Other ways of saving are by setting up a money market account , or even a CD. Invest: Most basic, low risk/low return are with things like saving bonds, Tbills etc. You can start with as little as $25. A nice gift for kids. For more info check out www.savingsbonds.gov For the more ambitious among you, consider a mutual fund . Here someone manages your money for you. It is diversified over a variety of stocks, you can get into a mutual fund for sometimes as little as $500, for more info check out www.mfea.com, or www.morningstar.com. Hopefully the next time someone calls you Madam de madam, you'll be able to respond, it's a matter of cash!!
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