7
Jul
Jul
Do they have something similar to IRA's in Australia. To invest money into also im still wondering how can you make money on them. thanks
Answer:
I can’t tell you about IRA's in Australia, but I can tell you how IRAs make money.
It depends what kind of IRA it is. Many IRAs purchase stocks & bonds, some purchase CDs. Others might invest in Mortgages, the investments are many. The ones that invest in CDs are obviously more safer, but will earn you less money. I recommend buying an IRA that invest in businesses (stock & bonds mostly). The ride is a little bumpier, but IRAs are meant for the long term - your gains will offset your losses, & in the long term you will win.
Don't pay attention to what the economy doing now because today's economy doesn't matter, 10-40 years from now you’ll have a nice gain.
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