CNBC starting an investment game for real cash prizes.

CNBC starting an investment game for real cash prizes.

Beginning on March 5, 2007, CNBC is starting the Million Dollar Portfolio Challenge where you can sign up and create a pretend portfolio. At the end of each week, the winner will win $10 000. After 10 weeks, the 10 weekly winners as well as the top 10 rankers will have another chance to compete at the $1 million grand prize.

You can also get extra money to invest with by doing daily trivia and referring friends to play the game too. Sounds interesting for people who love to take risks and have such a large sum of money to invest with!!! Sign up here!

3 Biggest Assests

So every one is telling you to save more money this year. Well, let's take a closer look into where or how to people keep making money. In what areas do people keep making money from?

While checking out the markets and everything. We have came to noticed three major areas that just kept popping up everywhere we looked. These were the 3 biggest assests we saw:

401(k) retirement plan
stocks, investments, bonds, cd, ETF's and etc
house, real estate, home renting, end etc

So here are some thoughts from this. We have learned that buying assets not liabilities will increase your net worth. With all this said and done. Here are some examples that we would suggest that could help you out.

For your 401(k) - Maybe try paying yourself alittle extra each month, maybe just put in a few extra % each month. If you can not handle it for a the whole year. How about trying it for just a few months out the year to increase your 401(k) retirement plan.

Stocks - Try putting in an extra 5% for 3 months, and invest an extra 5% for a month and then drop everything back to normal.

House - If you own your home, then concentrate more on other investments. If your still paying off your house, try paying one extra principal payment a month. Or just doing one extra mortgage payment a year could do your net worth wonders!

You do the Math

You do the Math

You really have to think, research, and know your investment options before you go diving into something blindfolded. To illustrate this, pick the offer below that seems better:

1. I'll give you $1,000 a day for 30 days.

2. I'll give you a penny on day one and then double your money every day for the rest of the 30-day month.

So which would you pick?

Well, some of you might think this is just another trick question, and really don't know what to pick. Other may have heard this one before, while some are saying I want my $30,000 screw that penny stuff.

Well, let's just do the math shall we. The first option plays on our impatience, because it takes no time at all to do the math on it: You'll have $30,000 at the end of the month. The second option doesn't seem so great at first glance, plus it takes time to do the math. But it'd be time well spent: Choose the second option and you'd have more than $5 million at the end of a 30-day month.