2006-06-19 15:35:25 · 12 answers · asked by Adam F 1 in Business & Finance ➔ Investing
1. Don't take specific advice from anyone on this forum.
2. Read at least one book on retirement investing and on mutual funds.
3. Create your own plan with a projected "asset allocation".
4. Start with mutual funds or ETF's.
5. An S&P500 index fund is a good place to start.
6. Never take tips.
7. Invest in "large cap" funds or stocks for several years before attempting smaller companies (esp. penny stocks).
8. Don't "chase" a hot fund or stock. Chances are you will get in near or at the "top".
9. I must repeat......... have an asset allocation you're at ease with.
10. Never invest in anything you don't understand.
Good luck!
(Please stay away from anyone that tells you to contact them on this forum)
2006-06-19 15:46:53 · answer #1 · answered by Common Sense 7 · 4⤊ 1⤋
Common Sense has the right idea. Use this site as a place for you to do some additional research. The best thing to do is read a book to gain some understanding of the market. Here's a few to get you started:
"The Random Walk Guide to Investing: Ten Rules for Financial Success" by Burton Malkiel - It's a quick read and written by the godfather of index investing
"Investing for Dummies" by Eric Tyson - Yeah I was embarrassed when I picked it up years ago but it was definitely a great introduction to the world of investing.
"The Four Pillars of Investing : Lessons for Building a Winning Portfolio" by William Bernstein (a real brain surgeon!) - One of my favorites. Longer book but he really breaks it down into fundamental components.
You should take a look at what you're investing for. Retirement? Education? Home in the future? All of these will impact your decision on what to invest.
Also you will need to figure out what your tolerance for risk is...higher the tolerance, the higher your POTENTIAL return but could also be a significant loss and vice versa.
HTH...
2006-06-19 23:43:14 · answer #2 · answered by Jesse 2 · 1⤊ 0⤋
Stay away from individual stocks - too risky. If you are planning on keeping the money invested for 5+ years, then go with mutual funds with a solid 10 year track record. If you are planning on keeping it invested for less than 5 years, then go with a money market account (the good ones get around 4% interest). If you are thinking of day trading, then you aren't an investor, you're a gambler.
2006-06-19 22:45:47 · answer #3 · answered by Lisa 2 · 1⤊ 0⤋
I would stick to a good (and large) mutual fund as a first timer so that you get a good feel for what the stock market is, how much volatility there is etc. But only invest if you have a long term focus (i.e. more than 5 years) otherwise put your money on a savings account. Another crucial thing: read, read, read ... to start understand the ins and outs of the stock market but never believe in golden tips, they simply don't exist.
2006-06-20 01:05:42 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Who Wants to Be A Millionaire?
The key to becoming a millionaire by age 65 is to start saving early! At age 15 if you invest in the Dow or Nasdaq $2,000 a year for 50 years when you are 65 and ready to stop working you will have $2,327,934.
1) Open a FREE Roth IRA account with an on line Broker
For example TD Ameritrade cost of each trade $9.99
2) Go to http://clarkhoward.com/index.html...
go to personal finance and read Financial basics, Investing, Resources/Contacts, Retirement planning, more...
Good luck
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2006-06-19 22:40:06 · answer #5 · answered by THEHATMAN 2 · 0⤊ 0⤋
Invest in the one investment over which you have 100% control - yourself. Buy a book or take some college classes. The returns are immeasurable.
2006-06-19 22:55:41 · answer #6 · answered by insuranceguytx 5 · 1⤊ 0⤋
Mutual funds; try Fidelity Investments.
2006-06-19 23:53:40 · answer #7 · answered by Maria M 2 · 0⤊ 0⤋
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2006-06-20 05:55:03 · answer #8 · answered by Soni 1 · 0⤊ 0⤋
A house. It gives you a place to live, a couple of tax deductions and a tax free capital gain up to $500,000. Not too bad. But remember. Location, location, location.
2006-06-20 09:19:24 · answer #9 · answered by Anonymous · 0⤊ 0⤋
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2006-06-20 04:37:59 · answer #10 · answered by Anonymous · 0⤊ 0⤋