Making a profit

any suggestions on where to make more than 6% on your money? safely..

Does this mean you already know how to make 5%, safely?

buy low sell high?

(seriously, I am sticking with index funds mostly, but I'm no pro and not a millionaire either - yet.)

What's a profit?

Indexed annuities typicaly have a7.5% return if you stay with em for at lest 10 years

actually i was thinking of buying bargins and reselling which could bring in more than 6 percent on the average..

I purchased a condo and rented it out. I should net 10% this year.

not quite in the range rennie but same train of thought..i can remember when you could get 5% on a savings account

Invest in Gold????

Not to many places that I feel safe putting my cash into.

Dom DiCara said:

Invest in Gold????

Not to many places that I feel safe putting my cash into.

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Gold is sort of in the tank now. Might be a good time to purchase. I purchased some ten or fifteen years ago. Even in this low market it is worth multiples of what I paid. That is not a fantastic financial deal. However, we purchased it as a safeguard against monetary collapse; investment was a secondary consideration.

Another "however," the gold is worth more now than it was when I purchased it. That is better than some other investments that I made (example: a company made a profit every month for over a hundred years---until I bought a wad of it.)

Enjoy,

JimB

Old quality tools bought at low prices can fetch a nice profit, the problem is finding enough to make money at it. 6% and safe is something I'd like a piece of too. If you figure it out, let me know.

Dividend paying stocks are probably your best bet, depending on your definition of safely. A few that I keep up with are Altria MO, New York Bancorp NYB, Intel INTC, and General Electric GE. The companies themselves have varying degrees of risk, but solid dividend stocks are one of the safest ways to get that mount of return. Even if the stock goes down, there is still an income stream from them usually. I believe there are some pure dividend stock mutual funds too, but I'm not familiar with them. Most of the stable income funds are some mixture of bonds and dividend paying stocks.

hire a respected and honest financial advisor and work with him and figure out what is the best solution for you.
With 60 being right around the corner for alot of us or within the next few years, risk is something that should be personalized for your situation and what realistic goals you have.

Jim C Bradley said:

Gold is sort of in the tank now. Might be a good time to purchase. I purchased some ten or fifteen years ago. Even in this low market it is worth multiples of what I paid. That is not a fantastic financial deal. However, we purchased it as a safeguard against monetary collapse; investment was a secondary consideration.

Another "however," the gold is worth more now than it was when I purchased it. That is better than some other investments that I made (example: a company made a profit every month for over a hundred years---until I bought a wad of it.)

Enjoy,

JimB

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Likely the gold is worth more now, because as the dollar falls and becomes weaker, it takes more dollars to buy gold... the value of gold hasn't changed, just the number of dollars needed to buy it. I agree that gold may be a good hedge against a monetary collapse, but is not a sound investment...... a number of years ago, my now deceased MIL bought gold... when she became ill and needed to cash in, the dollar was stronger and the value of the gold was down.... she lost money.

I may sound rather conservative in saying this but if you have a mortgage put any spare money into that until its paid off but dont settle it completely leave $100 or so at the end so its easy to resuccitate if ever needed.

Interest rates will not stay where they are now forever. Now is a time to use cash to retire debt and mortgage is debt. Most interest bearing investments attract tax so one has to look at after tax performance. When you aint looking to gamble then your mortgage is the best return for the average Joe Public.

Right now the opportunity exists with low mortgage rates to pay down principle debt and reduce future interest burden and shorten life of mortgage. When interest rates rise which they will then it will be pay back time big time by comparison to what you would have earned in interest in the short term.

Besides the return you make on your mortgage means you dont need to have any costs associated with your return such as fees to fund managers or finding a customer for the widget you decide to hawk like a trader.

Thats my 5 cents worth.

one thing that i think needs to enter in to this though, is without and declarations you pay more taxes... i have seen my taxes go steadyly up and the deductions have went steadly down as has the income.. so make less money and pay more taxes????