I'm not talking about latte or taffy type of investment, I'm talking about under-40 group of investors in Mutual funds, chit funds, stocks and the jibe. Well, for one investment surprise, I found was that the percentage of investment in Medical Insurance, Life Insurance counts lesser than investment in cars, home and the type. Senior investors often prefer share holding but naah, the younger gen is cooler here as well, simply because it prefers simple fixed deposits.
Education loans have however been on an all time high, kids hold onto your underpants! RD (Reader's Digest) gave in one of its edition a very comprehensive study of investment specifically of the under-40 group in India. The results were not very namby-pamby to the ears of so-called 'senior' investors. They hardly know whether to invest in their own self!! hahahaha! Talk about confidence.
Also, I learnt that senior investors prefer health, mediclaim, accident insurance! talk about confidence, here as well. Well, let's hope my blog investment pays up!
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Think Credit Scores Do Not Apply To Young Adults? Think Again. by PETE GLOCKER
Many young adults make mistakes in a thousand different ways. Mistakes like dating the wrong person, playing hooky from school, getting speeding tickets, smoking cigarettes and partying too much, just to name a few. But, when all those mistakes listed above are corrected and learned from as a young adult, chances are, they will not affect you five, ten or fifteen years down the road. On the other hand, messing up your credit as a young adult by not paying your credit cards on time, getting letters from collection agencies or having too much debt can do significant damage to your credit score for many years to come.
How does having bad credit when I am 18 affect me when I am 28?
By the time you turn 28, you will probably have a career and possibly a family. When you want to make big purchases like buying the car of your dreams or buying a house to raise a family, your credit score becomes more important than ever. Your credit score is also referred to as a FICO score and is typically a number between 300 and 850. Bank lenders who will loan you money for a house or a car will look at this score very carefully before lending you the money and deciding your interest rate. According to the article Starting Out by Kelly K. Spors in The Wall Street Journal, FICO scores above 760 qualify you for the best loan terms, while scores below 600 can mean unappealing terms and higher interest rates – or bar you from getting a loan all together. The breakdown of the FICO score includes a 35% weighting for payment history; 30% for the amount owed, especially as compared to your credit limits; and 15% for the length of your credit history. Also, having too many credit inquiries and loan applications by you or too many accounts opened in a short time can hurt your score.
from,http://www.amazines.com/article_detail.cfm/119967?articleid=119967&title=FICO%2Ccredit%2Cscore%2Ccredit%2Creport%2CDMCC%2Cdebt%2Cmanagement
Investment options for the young and the restless?
January 26, 2007 11:03 AM
A friend needs to find a good place to park some money that will ultimately be used for house down-payment purposes. Help me come up with a few good investment options.
My friend has around $100k sitting in a low-yield savings account. It pains me to see the cash left there when better options are legion.
Key points: the money will be invested for around 1-3 years. I think one or two good mutual funds would be a reasonable choice, but am not really an investor myself so I don't have specific funds or fund families to which I can point my friend.
Other options are welcome, of course, provided they are relatively conservative and are low-maintenance (i.e. they do not require active monthly monitoring; keep in mind that my friend is relatively young and is not an experienced investor).
from, http://ask.metafilter.com/55804/Investment-options-for-the-young-and-the-restless
"YOUR PERFECT INVESTMENT GUIDE"In short, the book's advice is as follows:
1. There are no reliable ways to get rich quick.
2. Spend less than you earn. (Here follows discussion of money-saving tricks.)
3. If you have trouble spending less than you earn, find out where the money goes.
4. Beware of financial advertising. Celebrity endorsements are usually worthless. Rarely is the celebrity a competent financial expert. And he usually receives a large fee for the endorsement, which might well lead him to give dubious advice. Mutual fund blurbs boast about the dizzy heights the funds have scaled in the mid to late stages of a stock market boom, and say nothing about the hideous depths to which they will plunge in the ensuing crash. The hype intensifies right up to the crash, the crash always comes without warning, and the funds that fly the highest usually crash the hardest. Mutual fund advertisement is muted for several months after a severe stock market crash, which is usually the best time to buy them.
5. Put your first $10,000 or so someplace safe: a bank savings account, US Savings Bonds, or a money market fund. (Here follows a discussion of bonds, not all of which are safe.)
6. Use tax-sheltered accounts to save for your retirement and your children's college.
7. Invest in no-load, low-expense stock index mutual funds every month for the rest of your working life. Don't invest less than usual after a terrible crash or a prolonged slump - that's usually the best time to invest. Don't invest more than usual when the market has been flying high for years - that's often the worst time to invest. (A discussion of stocks by the way.)
8. You can't reliably beat the market average, no matter how hard you try. (This may not be the exact literal truth, but it's close enough for most people who have day jobs doing something else.) And you can nearly match the market average almost without trying by periodically investing in index funds, so do it and get back to your life.
9. Skip complex, laborious, expensive, unreliable market-beating tactics. (Here follows a quick discussion of a few of them - hot tips, inside information, charts, splits, short sales, leverage, margin, options, penny stocks, commodity speculation, financial futures contracts, other investment guides - and why not to bother much with them.) Just periodically invest in index funds.
All of this is written in a slick, humorous style with lots of helpful tips and amusing illustrative anecdotes.
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