HOME  |  MESSAGE BOARD  |  LINKS  |  CONTACT


           Post New Message
Message  
Author  
Date  
Money saving   Desi   01/20/2019 04:49 PM  

I have managed to save 10 k usd last year. Now I have this cash but not sure how to invest in USA. In India I would have made a FD but what are the options here? Thanks

Reply

Re: Money saving   Retiree   01/20/2019 05:40 PM  

I am accepting funding to my retirement account, if you would like to contribute

Reply

Re: Money saving   KR   01/20/2019 06:30 PM  

My assumption is you are not looking to keep that money in your retirement account like IRA or 401k. If that is the case
Here is what I would do.
Create a portfolio of stock for 10k and invest a percentage. Based on the market movement, I would increase or decrease the investment.

There are mutual funds too if you like someone else manage the fund for you!

best of luck!


Reply

Re: Money saving   Manoj   01/20/2019 09:11 PM  

Dont send india. Open discover saving account with $15o bonus and 2.5% intetest.

Reply

Re: Re: Money saving   desi   01/21/2019 12:43 AM  

(at) Manoj, from Indian account, you can get around 7% on 1 Yr Fixed deposit? Am I missing something?

Reply

Re: Re: Re: Money saving   Ak   01/21/2019 04:35 AM  

I agree sending and getting back money from India can be hassle but do people save their earnings in India for better interest rate? Even when they are permanently settled here.

Reply

Re: Re: Re: Re: Money saving   invest   01/21/2019 09:49 AM  

Saving in India does give better interest rate but your money is open to dollar rupee rate risk. We all know which way dollar rates are going.

Everybody wants that easy answer where the money is safe and will grow the max. But it is not that easy. More return means more risk and less return is less risk.

The first rule of investing is to have a plan. A) What do you want to save it for - is it a short term goal (1-3 years), medium term (4-7 years) or long term >7 years) .If you want to be ultra safe, just invest in a CD (equivalent to FD in India). Interest rates will be in 1.5-3% rate only. Also, if that's all you have in savings then that is not much and you should start by having an emergency fund - so CD is the way to go.

Beyond that look into bonds and then index mutual funds. The S&P index fund (Vanguard, Fidelity etc.) are the best in my view as they are low cost and you will always come out winner in the LONG run.

There is no substitute for research. So read up as much as you can. Your money is like an extra income earner in your home, so put it to work ASAP.


Reply



www.ctdesi.com Copyright 2005-2023 All Rights reserved. This site has details and links to advertisements, events, links, messages posted by users. The users need to verify the correctness of such information and ctdesi.com do not guarantee the correctness of the content. The risk of using this content remains with the user.
Please read our Privacy Policy Send any comments to: Contact