Quote:
Originally Posted by areaman
USA
34k
Risk Tolerance - Aggro
Timeframe for investment - don't know, but i need access to it when i need access to it without penalty
Debt - $0
have about 3k sitting in a low interest savings account (for about 2 years), id be happy opening and etrade account but i have absolutely zero knowledge about stocks. do they have advisors? do they charge a lot? would like to get this money into the market, but again, probably need an advisor.
dont mind losing it, obviously would rather not. i dont make much money. right now i have a relatively new car that ive paid for in cash, if however, i were to need a car or i need money to buy basically anything id need to access it quickly and without penalty.
AREAMAN! Play BadgerPoker in the last few years? heh
Honestly right now, the market is due to a pull back I think. I wouldn't invest anything right now you aren't comfortable seeing drop in value. You may think one thing, but when the numbers start dwindling and its your only big asset reserve it is quite another to not panic.
Since you've stated you don't make much money (curse Black Friday!) I'd honestly keep a larger chunk in cash, something like $10k, until you're more comfortable with cash flow and have a budget worked out.
The rest, I would tend to agree with smartalec to KISS, though I would modify it:
Take $10k and put it into the Vanguard Target Retirement Fund 2050 inside of a Roth IRA. This will be your 2011 and 2012 contribution.
Take the remaining and consider putting in the same fund, but in a taxable account. Keep that in mind. Dividends etc, sales of funds when profit has to be recorded and then filed with taxes.
If you wanted to get super aggro with a much higher risk level, the better choice is to break the holdings into a 3 or 4 instead of just one and target higher risk / higher yield like emerging markets, high yield and real estate.