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Cook and Company, Enrolled Agents

 

Getting Your Feet Wet – Begin Investing




If you are anxious to get your investments started, you can get started right away without having a lot of knowledge about the stock market. Start by being a conservative investor with a low risk tolerance. This will give you a way to making your money grow while you learn more about investing.

Start with an interest bearing savings account. You may already have one. If you don’t, you should. A savings account can be opened at the same bank that you do your checking at – or at any other bank. A savings account should pay 2 – 4% on the money that you have in the account.

It’s not a lot of money – unless you have a million dollars in that account – but it is a start, and it is money making money.

Next, invest in money market funds. This can often be done through your bank. These funds have higher interest payouts than typical savings accounts, but they work much the same way. These are short term investments, so your money won’t be tied up for a long period of time – but again, it is money making money.

Certificates of Deposit are also sound investments with no risk. The interest rates on CD’s are typically higher than those of savings accounts or Money Market Funds.

You can select the duration of your investment, and interest is paid regularly until the CD reaches maturity. CD’s can be purchased at your bank, and your bank will insure them against loss. When the CD reaches maturity, you receive your original investment, plus the interest that the CD has earned.

If you are just starting out, one or all of these three types of investments is the best starting point. Again, this will allow your money to start making money for you while you learn more about investing in other places.

Financial Articles
401k Participation
Back Dated Stock Options
Before You Invest
Begin Investing
Borrow or Cash-Out?
Build America Bonds
Business Checkbook
Choosing a Broker
Credits
Debt Consolidation
Diversification
Dividend Safety
Early Pay-Off
Equipment Leasing
Foreign Bank Account
How Much to Invest?
Impulse Spending
Investing Basics
Investing for Retirement
Investing Mistakes
Investing Traps
Investment Strategy
Investment Style
IRA Beneficiary
Lease Agreement
Life Insurance
Long Term Care
Long Term Investments
Losses in IRA
Mutual Funds - The Basics
My Financial Info
NONDISCLOSURE AGREEMENT
Oil and Gas
Online Trading
Recovery Zone Bonds
REITS
Rental Real Estate
Risk Tolerance
Self Directed IRA
Self-Directed IRA Rules
Shareholder Rights
Spend Wisely
Tax Credit Bonds for Schools
The Budget
Types of Bonds
Types of Investments
Types of Stock
Understanding Bonds
Wash Sale Rules
When to Sell
Where to Invest
Why Budget?
Yield Curves




Cook and Company Site Map

 

Copyright © 1994-2010 Cook & Co. Toll-Free Nationwide 1-800-551-6253 or 6254  Main Tel. 256-586-4111 Fax 256-586-4138 Bara Business Center 124 South Main Street  Arab, Alabama 35016  Direct Phone Lines From Birmingham: 322-7452 Huntsville: 534-6922  Cook & Co., Enrolled Agents are licensed by the U.S. Treasury Department to represent taxpayers before the Internal Revenue Service (IRS). Greg Cook is a Certified Public Accountant (CPA) licensed by the states of Alabama and Tennessee.

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