How To Keep Your Cash Safe

                                                                                                                                         

 Hey guys,this is an old repost from when I first started the How To keep Your Cash blog. Hey everyone, here's my first post on the blog. It's relatively simple guys, I believe you have to protect your cash. Too many people are being easily taken in by the mutual fund hucksters and looking for an easy way to make money.

Stocks if you can't handle them emotionally with the ups and downs of the market are not a good thing.

Most people don't understand stocks and mutual funds. You're risking your hard earned money to someone else to make money for you. That guy who runs a mutual fund and makes investments for 100's or thousands of folks, we're hoping he makes the right decision.

Good luck with all of that guys.

Another thing, Gold or real estate investing isn't the answer either. Neither is getting an internet business.

Here's where you need to put your cash. Put it in the bloody bank. Yep, in a basic bank account. You'll sleep better at night and even though you won't get 4 or 5 percent on your money, chances are you'll come out ahead of the market.

And putting your cash in an IRA just locks in your money and if you take any out before you hit a certain age; you'll be taxed like a bastard. At the most put your money in some Certificates of Deposit, or CD's for short terms. If you can afford it put in 2,500 bucks a piece into 2 CD's. Have one mature in 6 months and the other in a year. Keep the maturity date short because you won't come out much farther ahead, if you keep the CD for 5 years.

These days with interest rates on CD's and Treasuries being so low, you're better off just banking your money in safe cash accounts and CD's. If you don't understand certain types of investments don't do it. Or learn all you can about them, knowing you probably will lose a bit of money or a lot.

Me, I keep my money strictly in cash. Your other bet is to start a small business. Something you know and understand, and use money you can afford to lose. Don't put thousands of dollars into something you like but don't really fully grasp. Makes no sense to me at least.

Your best bet is to work a regular job, put your money in safe cash accounts and start a small business with money you can afford to lose. You can come out ahead and make a good living. Just follow the basics I've laid out here.