O.K. m 15 and soon to be 16 in like 15 days when i get a job i want to start investing?

Question

how do i begin to do this how much money do i need...

Answer 1

depends on what you want to invest in. one of the best things you can do for yourself is to build up your personal credit and score.

Real estate is always a safe bet. the better your credit score, the better rates you'll get. with realestate, you need no money of your own. use the banks money. they will be elated to loan you the money and you can invest it in real estate. i've been doing it for years with no money of my own.

look at it this way, will a bank give you money to invest in the stock market or mutual funds? NO WAY. they know that it is not a safe bet. But Realestate, they will practically throw money at you for this purpose. So, if they know it is a safe bet, you can model your own investing after this thinking.

Check out http://www.richdad.com Robert Kiyosaki gives very simple and practical methods of building your wealth. Get his book Rich Dad / Poor Dad and start there.

I'm proud of you for taking your investing seriously.

Answer 2

Their are several things you can do! If you want to invest the money you are going to be making, I'd suggest a money market account. Since you are under 18, you would have to have a custodian (like a parent or grandparent) on the account with you. Don't just open a savings account, they don't pay hardly any interest to speak of. A brokered money market is paying over 4% right now, and if you ever want to convert the funds into something else (i.e. stocks, mutual funds, etc) it will be very easy to do so. Don't settle for just the savings account a bank may offer, look around and talk to an investment officer about other things you can do.

Answer 3

my age is much simillar to urs. i have bee n planning investing some money in up coming companies( buying shares) if u have studie the a company well, an know that it is gonna rise, i say invest some money. when it rises the stcks may be double what it is worth, and after a while triple, here u caan start selling some stockes and keep some money for ur self, and invest in new uprising cmpanies. i have found that this way is the safest way, and plus u don't really have to do anything but wait. my theory is don't in vest all ur mon ey, and keep the money ur playing with in the game.

for example u invest 100$ after a while u sell ur stockes for 300$ keep 100$(the money u started with) and invest in the 200$, then u might sell the m in 400$, here u can take the amount u want, but i say it can wait for a while. invest in the 400$ after a while u can sell these stockes for 600$ . by this time u have not lost anything, but gain ed 600$, the game may continue...
i turn 16 after about 2 months:p
the good thing in investing in rising companies, u can start with any amount of money, a nd no need to take a loan from a bank. but it is up to u this is my theory.

Answer 4

have your parents open you an account with someone like E-trade. You can start putting money into NO LOAD mutual funds, or an Index fund that will cost you very very little as far as fees go.

Each fund is different on how much you need to invest at first, but $250 - $500 or so is common to start, then any amount can be put in as you go along.

I am not pushing etrade there are lots of places you can set up an account, but they have alot of information on their web site you can get for free.

Smart move you got going and good luck

Answer 5

At your age, all you can really do is open a SAVINGS account to keep the bulk of your money in that you don't need to pay for stuff with (which you should keep in a seperate CURRENT / CHECKING account)......... use the savings account to build up a good stash of money, ready to start investing in the StockMarket + Bonds when you hit 18.

Use the time available to study all you can about investing in the Stockmarket @ these sites:
http://www.fool.com
http://www.fool.co.uk
http://www.investopedia.com
http://www.everyinvestor.co.uk
http://www.bullbearings.co.uk
http://www.fantasystocks.com/

Answer 6

At 16, that could be difficult... First, do you have a regular bank/checking account. Get one of those. Then, open an ING savings account. It is a great way to save and it is earning 4.35% right now!! You can also go to TreasuryDirect.gov to buy savings bonds-another great way to save and have your money grow. Also, when you do get a job ask if they have a 401(k) plan--it is NEVER too early to start saving for retirement--the sooner you start the more interest you can earn.

Answer 7

you start by saving a portion of each and every paycheck
then you can build up enough to invest with.
you sound like a winner. go for it.