I have a very small amount of money that I want to invest in a stock purchase. I have chosen my own stocks, but I don't know where to buy.
2006-07-14 20:28:09 · 8 answers · asked by rightofwaysgirl 1 in Business & Finance ➔ Investing
I do want to try this without a broker. Are all online investment sites safe and dependable?Is there anything to look out for?
2006-07-14 20:41:30 · update #1
Thank you all for your responses. I'm listening.
2006-07-14 20:43:10 · update #2
Etrade or TDAmeritrade are good. They have low minimum balance requirement for waiving quarterly maintenance fee.
If you have a good stock tip, stocks are fine. But, one of the rules for smart investing is to diversify your holdings. When you have a small amount of money, usually a mutual fund is a better choice because you minimize your risks of picking a bad stock.
2006-07-17 16:11:31 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Well, I don't mean to be rude, but if you are asking this then you might be throwing your money away. First, how much do you have to invest? If it's under 3 grand it too small for random equities. Also, how did you choose your stocks-are they diverse? Brokers are the only way to go BC they have the licensure to purchase the stock. Go with fidelity or vanguard. Maybe a bit more pricey but much more reliable than these cheap deals from inexperienced companies online. If it's under 3 grand start your IRA, a Roth; or if you have done that, put it in mutual funds until it grows a bit. Good Luck! And remember, always do your homework and know what is going on everyday with your companies. I check five times a day-before work, 3times during the day, and before bed. If you can't commit to this process you will lose your money. Keep it in a mutual fund.
2006-07-14 21:16:50 · answer #2 · answered by Anonymous · 0⤊ 0⤋
My personal suggestion is to put the money into a mutual fund that invests in a variety of stocks. Investment amount can be as little as $250, but most are around $500 to 1000.
The biggest advantage is that you'll be buying into a fund that invests in multiple stocks chosen by a professional portfolio manager. And there are a wide variety of funds out there.
For example, you've got Vanguard, Dreyfus, Fidelity, etc. Morningstar Reports rates these various funds and provides information on performance, fund objective, and the key stocks in the fund.
2006-07-15 04:44:03 · answer #3 · answered by msoexpert 6 · 0⤊ 0⤋
Use a discount broker like e-trade, or if you belong to USAA they are also very good.
Also woudl be a good idea to open a Roth IRA account and make your purchases within that investment vehicle, and then keep funding it over time ($25 a week or $500 month -- whatever you can afford). Don't just make this a one time thing.
2006-07-14 20:38:42 · answer #4 · answered by Finnale 2 · 0⤊ 0⤋
Two ways. Either you can work with professional investors who charge you fees. Or invest through the internet. This way you have control of what you want to do. you can find online trading company through internet advertisement. they'll ask you to open an account with them. But you have to do all your own research on companies that you wnat to invest stocks with. but if you do decide to go to a profeesional investor, you don't have to do everything yourself. They know what to do, and all you have to do is make decision whether to buy or sell.
2006-07-14 20:37:23 · answer #5 · answered by FILO 6 · 0⤊ 0⤋
Don't buy stocks! Well, buy mutual funds which are
stocks. But I mean individual company stocks. The pros
are much better at picking them.
2006-07-14 20:41:29 · answer #6 · answered by PoohP 4 · 0⤊ 0⤋
The best thing to do, will be to contact and consult with your friendly neighbourhood stock broker !
2006-07-14 20:34:02 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Plenty of good advice here.
2006-07-14 20:31:47 · answer #8 · answered by Anonymous · 0⤊ 0⤋