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Question for the Money Doctors

Question submitted on Jun 19, 2011.

Question

We have a little, and I mean a very little [$1,500] we can invest. What is the best investment option right now?

Answer

This is a difficult question to answer without knowing a little about you.  All financial advisors consider the suitability of any investment for their clients.  What is your risk tolerance (conservative, moderate, or aggressive) and when will you need access to these funds.  Absent any inofrmation, I can only give you some generic information about what investment options you should consider.

First of all, you are absolutely doing the right thing by considering your options.  When someone has limited funds one way they can get some diversification is to consider investing in a mutual fund or an ETF, Exchange Traded Fund.  Perhaps a balanced mutual fund would be a good fit, particularly if you can add to it on a monthly basis.


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