Where should I invest my money tips mutual funds stocks ...

Question by Vboy303: Where should I invest my money tips mutual funds stocks?
Okay, So I?ve got about $ 9000 that?s been sitting in my Starone.org credit union earning 5%. Well I?ve just finished reading the Wealthy Barber , Richest Man in Babylon & Dave Ramsey books. They all seem to say I should open a Mutual Fund with a good portfolio manager. Can someone tell me where I can start researching this. Better yet. Can someone just list a few examples of Mutual funds I can throw some of the money in now while I research things as I go?

Any other suggestions welcome. But I?m getting tired of researching things on my own right now only getting more lost.
These are all Fantastic answers so far. keep ?em coming. Maybe I don?t know any better but I was hoping If someone can be a little more specific as to what they are investing in right now. And to which Mutual Fund group and with which company. I appreciate everything so far. You are all gentlemen and scholars.

Best answer:

Answer by Uncle Leo
Start with a lifecycle or target date fund. These are mutual funds where the fund management company does the work of allocating your money into a diversified portfolio of assets. Each such fund has a ?target year,? which is the year investors in the fund plan to retire. The fund is invested in a way that will hopefully provide a good long term return by that year. You pick a fund with a target year around the time you hope to retire. For example, if you are 35 now and plan to retire in about 30 years, pick a fund with a target year of 2035 (these funds usually have target years in multiples of 5, like 2030, 2035, 2040, etc.).

Vanguard is a low cost mutual fund management company and calls these funds ?Target Retirement? funds. Fidelity is another mutual fund management company, probably not quite as inexpensive as Vanguard, but still a pretty good deal for these types of funds. Fidelity calls them ?Freedom Funds.?

For more information about lifecycle and target date funds, see the webpage listed below.

What do you think? Answer below!

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Source: http://www.preferred-group.com/97/where-should-i-invest-my-money-tips-mutual-funds-stocks/

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