NO idea at all please be easy to understand.
2006-07-08 17:26:52 · 14 answers · asked by Venessa B 3 in Business & Finance ➔ Investing
Please, I am pleading with you. Before you do anything you must get yourself educated or what you are doing is no different from gambling (with worse odds potentially). Stocks are not a get rich quick scheme. For every story you hear of someone with no experience making big money in the stock market there are 1,000 who have lost BIG!!!! Develop your financial intelligence!! How do you know that the stock market will be your best investment opportunity? Read all that you can on the subject, find a mentor who is successful and do whatever it takes (stay moral of course) to have them help you. Do their yard work for free if you have to. Above all else, if you want to be a successful investor you must successfully develop your financial intelligence. This is a long process. That is the difference between investing and gambling.
2006-07-09 13:31:03 · answer #1 · answered by Robert P 2 · 1⤊ 0⤋
Go to a good bank, or even better a credit union where you have a savings account and talk to an investment counselor about systematic investing. You will most likely benefit from a Roth IRA, which will not have taxes deducted from your balance down the road. Systematic investing into a mutual fund is a good start, and it would be beneficial for you to invest for the purposes of "growth and income." This way of investing gives you two very good things: you can invest as little as $50 per month until you have built up a balance of about $600, so you don't have to come up with a great deal of cash at the start. Also, you can usually top it off at $600 if, for some reason, you cannot continue to put money in every month. And lastly, in the event of an emergency, you can withdraw from the account. The information I'm giving you is based on my own experience. I have paid a $10 annual fee for account maintenance - that's pretty cheap for having someone do all of the work of looking at the best moves to make when it comes to stocks.
2006-07-08 17:30:47 · answer #2 · answered by Shalom Yerushalayim 5 · 0⤊ 0⤋
Whilst the other answers cover the typical, and good advice you shouldn't be _investing_ your entire bankroll in stocks without knowing what you're doing, I think dabbling is fun, and I do it myself. I would keep it to a fixed amount like $500 or $1000. Think of it as a gambling budget, as if you're going to Vegas, be willing to lose it. The quickest way to learn is to do. Buy a few shares of a couple companies. you'll find yourself reading 10-K's, listening to conference calls, etc. etc. etc. You'll be reading everything you can once you have some real bread out there. .
I started with 500$ at http://www.scottrade.com
and I'm down 5% in 2 weeks :)
2006-07-08 19:57:07 · answer #3 · answered by kvuo 4 · 0⤊ 0⤋
dont do it, Dont Do It, DONT DO IT!! why should you invest in a company that does not give a dam about you ??? why??.. the best investment you can EVER make is investing in yourself! start a small business , get an education.. this is the ONLY investment YOU can control.. if you must.. put your money in a guaranteed account at a bank... the others DO NOT deserve your hard earned cash or help.... and certainly NEVER get involved in ANYTHING you dont understand THOROUGHLY!.... or you may try this;" give your money to the poor , as the Bible says, and you will get it back "ten fold"... if you dont believe what Jesus and the Bible say .. please , PLEASE dont believe what a stock broker / financial advisor will tell you... do you realy think they care AT ALL about YOU????
2006-07-08 17:36:37 · answer #4 · answered by ong jon 6 · 0⤊ 0⤋
I recommend mutual funds, which invest in a large group of stocks so risk is minimized since you are more diversified than when you own single stocks. My favorite mutual fund company is T Rowe Price. You can buy shares of the fund with a lump sum or sign up to have an amount as low as $50 per month withdrawn from your bank account to buy the shares. Here is link to their site.
http://www.troweprice.com
Good luck!
2006-07-08 17:35:46 · answer #5 · answered by Oliver1010 3 · 0⤊ 0⤋
V ... a mutual fund is the best idea as they have a staff that is VERY smart about choosing a group of stocks that over time will grow. I have been with one of the oldest called T. Rowe Price and they have MANY funds with varying degrees of risk/reward. There a zillion companies like these but I chose them because my great grandfather used them and I like people, places and things that are around a long time.
2006-07-08 17:31:33 · answer #6 · answered by christopher7329 3 · 0⤊ 0⤋
Go to Vanguard.com and fill out an application to set up an account. Vanguard has some great mutual funds. Invest your money in some of their index funds.
Don't buy stocks.
2006-07-08 17:33:34 · answer #7 · answered by jadz 2 · 0⤊ 0⤋
Unless you are talking about investing hundreds of thousands of dollars you are not wealthy enough or sophisticated enough to invest in individual stocks. Stick to money market accounts and / or CD's, and if you want to get really daring, mutual funds.
2006-07-08 17:34:07 · answer #8 · answered by TC 5 · 0⤊ 0⤋
First, I highly recommend you know what u r doing before you invest into any stock.
Check out www.investools.com. U may have seen their infomercials. If you can afford this education system they offer and can put in the time to learn and paper trade it will be worth your while. I have been learning and paper trading for @ 4 months and I know I will be successful at this. Believe in yourself and believe that you can do it. Good luck.
John
2006-07-08 18:38:56 · answer #9 · answered by john-campos@sbcglobal.net 1 · 0⤊ 0⤋
the rules for the stock market are the same as the rules for gambling - never put up any money you can't afford to lose.
2006-07-08 17:34:59 · answer #10 · answered by oddyerdy 3 · 0⤊ 0⤋