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Posted: 11/8/2001 5:53:04 PM EDT
I've got around 25,000 dollars sitting in a money market account getting about 2% interest. I'd like to invest this money into mutual funds, but I dont know how to go about doing it. What I'd like to do is to put 3-5 thousand dollars into several diverse funds, and then put money on a regular basis into each one. Also, how are capital gains figured out when funds are purchased on a regular basis?
Link Posted: 11/8/2001 5:56:46 PM EDT
Sorry about that. Wrong forum.
Link Posted: 11/8/2001 6:32:06 PM EDT
I have mutual funds with AmericanCentury... used to be 20thcentury Investments. [url]www.americancentury.com[/url] No_Expert
Link Posted: 11/8/2001 7:02:07 PM EDT
Hello I am not an expert on this but I have been investing for a few years. First what I would recommend you do would find a good investment brokerage. They do charge a small fee but then they invest direct and you dont have to worry about the hassle. Second you want to figure out how you want to invest your money. With the way the market is down anything would be a pretty promising investment for the future. If you are older you probably want to be moderate with your investing find a proven fund and stay away from tech stocks. If you still have 20-30 yrs before you plan on retiring you could definitely have some fun with your investing. Personally I deal with Edward Jones and I stick to the American Funds Group and The Hartford Funds Group. There are other good groups and some banks offer some plans. But I would also recommend investing directly into some good companies. Phillip Morris, Home Depot, Exxon Mobil, Guidant, Duke Energy, alot of Pharmaceuticals(Pfizer, Merck, Eli Lilly, Pharmacia,etc) are also good. To do this there is something called Drip Investing. If you are interested let me know and I will pass on the address for the newsletter.
Link Posted: 11/8/2001 7:10:33 PM EDT
Go buy Money Magazine. They usually have a review of the mutual funds. Then get on te net and open an account at rjt.com. I say rjt because it is $5 a trade, can't get cheaper then that, and buy you mutual fund shares. easy as that. Great time to buy by the way. Maybe wait until the market pull sback alittle bit. It has been up lately and the buzz is a sell off is coming.
Link Posted: 11/8/2001 7:43:49 PM EDT
Originally Posted By Krakatoa: Sorry about that. Wrong forum.
View Quote
That's ok - no problem. [:)] I moved this topic from General Firearms Discussion to the General Discussion forum (I hope that you will get more answers here). Tyler
Link Posted: 11/9/2001 5:15:32 AM EDT
Lordtrader? Paging Lordtrader.....
Link Posted: 11/9/2001 5:25:29 AM EDT
i would think that all major brokerages have a mutual fund desk. figure out which brokerage and strategy is best for you by either talking to a broker/adviser or by doing the homework yourself in methods described above. avoid unscrupulous or "brand new" brokerages if possible. trust-worthy names that come to mind: Bear Stearns, Price Waterhouse Coopers, Janus Funds, etc. capital gains taxes are the same as any other investment vehicle, if you hold your investment for under 12 months, it is a "short term capital gain (loss)" if more than 12 months (without a redemption) it will be catagorized as a "long term capital gain (loss)". they are structured to discourage short-term gains through prohibitive taxes. (also, you could shop around for better CD rates! for instance, a 12 month-CD at a local credit union is offering 4%) good luck!
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