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Old April 4th, 2004, 07:36 PM   #112
WA114
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Join Date: Mar 2001
Location: Canada
Posts: 551
That really depends, gsf. Are you looking for an immediate return or a long-term gain? If you are willing to be patient and are looking for long-term gain, I'd suggest a medium- to high-performance mutual fund. With some of these, there is a minimum investment involved, and a commitment of a few to several years is involved. You really need to research the funds in which you want to invest -- some support things like tobacco companies and other things your personal beliefs may not agree with. Also, some high-growth funds carry a lot of risk. You could earn a lot, or you could lose.

Mutual funds and savings bonds build on the idea of compound interest. In the first year, you earn interest. In subsequent years, you earn interest not only on your initial investment, but also on the interest you earned already. Over time, this can make a significant difference.

I'm not a financial expert, but these are some of the things I've learned.

A good book, if you can find it, is <i>The Wealthy Barber</i>. It has a lot of useful advice.

Another suggestion is to talk to a banking specialist. They have far more training than I and can probably give you other practical suggestions.

I hope this helps.
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