Newbie - What is the best way to invest my savings?

C

coparker

Hello community, I'm from Colombia. If you were in my shoes and using my currency (Colombian Peso), what is the best way to invest my savings to begin with?, Forex?. Thanks.
 
Hey,

Forex has nothing to do with investing.

Start investing by buying books about investing.

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Forex trading would be horrible. There is a serious lack of regulations. Second worse would be pink sheet (penny stocks) on stocks that do not file regulatory, audited, reports.

I would use IB and do money conversions into Peso-USD because it is the cheapest way, and you can hold it there. But an IB account for a non US citzen is going to require a lot of paperwork. Probably also some sort of FBAR reporting to the US IRS.

Then put the money in high cash flow, dividend-appreciation, large cap stocks. MSFT and SBUX come to mind as choices, that are not in the energy or health care sectors.

And read books, not the internet.
 
Bad_Badness said:
Forex trading would be horrible. There is a serious lack of regulations. Second worse would be pink sheet (penny stocks) on stocks that do not file regulatory, audited, reports.

I would use IB and do money conversions into Peso-USD because it is the cheapest way, and you can hold it there. But an IB account for a non US citzen is going to require a lot of paperwork. Probably also some sort of FBAR reporting to the US IRS.

Then put the money in high cash flow, dividend-appreciation, large cap stocks. MSFT and SBUX come to mind as choices, that are not in the energy or health care sectors.

And read books, not the internet.
More...

Which books you recommend me to understand IB?. Thanks.
 
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