Business and Finance: Put the Money Away

Piggy Bank and Mattress aside there are lots of places to invest your hard earned cash.  Here is a basic list of ideas of where to keep your money so it can hopefully grow and become more profitable.

The Bank

The basic answer of course is the bank in a savings account.  The government will insure your accounts for up to 100,000 dollars, so it is a fairly safe place to keep your money.  A good bank account will give you a good interest rate, so that your money grows over time, so the longer you save the more you make.  There are various local and national banks for you to use such as Bank of America or Citibank.

Stocks

The truth is these can be a bit of a gamble but if you play your cards right, you can do pretty well for yourself (pun intended).  Buying stocks often means involving a brokerage firm, who will do your purchasing for you.  Before going into stocks do your research and make sure you aren’t taking too big of a risk.

Investment Managers

Going through one of these guys can help make your portfolio a little easier to read and understand, because they do it for you.  Investment managers take your assets and invest them, and with the money they pull in you can guess they do a pretty good job.  There are lots of companies out there doing this, such as Gregg Hymowitz  EnTrust Capital in New York City, but make sure you find the firm that is right for you.

Metals

Not a lot of people know about investing in precious metals, but it’s a great way to safely invest your money.  Metals have uses in numerous industries such as construction, jewelry and technology so you can bet they will always be in demand.

Cash

Sometimes it’s good just to have a little bit of this around for a rainy day.