Lump Sum Investments
Got lump sum $50,000 – how to invest?
Unfortunately I am also about the same amount in debt. Should I pay off all of my debts and be left with nothing (but a fresh start) or invest it and just keep paying the minimum payments on my debts? Should I pay some of my debts and invest the rest? This is the most money I will ever have especially all at once. What is a fast, easy investment that would give me the quickest profit? Is there any way to explain to me stocks / Investments, etc. in an easy quick summary? THANKS!
I DO NOT WANT TO INVEST IN DRUGS!! Thanks anyway
I know this is pathetic but my debt is all credit cards – I have no equity/assets, I don’t own a home, etc. that’s why I need a good plan for this money so I don’t find myself in this situation again.
Firstly, you have to be experienced to be a good investor. I would pay off some of the debt, keep some for educating yourself in stock market investing, and keep the rest in a short term CD until you learn about stocks.
Start by reading the book “Understanding Wall Street”. Also, read the paper Investors Business Daily everyday, it has a lot of information about investing. Take some classes at your local community schools, which are very inexpensive. Read about technical and fundamental analysis at www.stockcharts.com. Make sure you understand technical analysis before investing.
Once you start trading, take a course with a professional trader, more expensive, but worth it.
As you get more experienced, you will become a better investor/trader, go and make some money and pay off the rest of the debts. Then make more and more money. More importantly, learn to control emotions, fear & greed, this can be done by working on yourself, self-improvement.
Good luck.
Lump Sum Investment_Trinity Wealth Management