in stocks or mutal funds? i am a teen and want to know about age requirments and if u need a brooker to invest and and whats the best way to get srated?
2006-07-30 13:36:30 · 3 answers · asked by Simply Me 5 in Business & Finance ➔ Investing
sorry im asking so many questions in one i just really want to know the answer to any one of those questions.
2006-07-30 13:37:48 · update #1
first you need a minimum amount of money (it depends on which financial institution you are investing with). then you need to identification cards (government issued) to open an account. then get an education on what type of investments (considering the risks and return) suit you the most.
2006-07-30 13:42:04 · answer #1 · answered by J 4 · 0⤊ 1⤋
Congratulation, you are ahead of the game in investing. Tell your mom or dad open an Roth IRA for you with summer job money.
you need to have a good saving habit. Control your spending
forget about cool car and fansy stuffs.For starter, go with index fund
Remember this picture, you do not want when you are 65 years olds and you standing at the wal-mart checker or bagger.
Save early and consistent
www.scottrade.com, www.etrade.com
http://www.pathtoinvesting.org/index_flash.htm
the book you should read is Trader Almanac by jeff Hirsch.
2006-07-31 00:25:04 · answer #2 · answered by Hoa N 6 · 0⤊ 0⤋
Open up an account at http://www.edwardjones.com
and set up a IRA, a Roth IRA or Funds account.... chose American Funds for they only require $250.00 to fully fund an account.... minimum investments is $25.00 a month... quite cheap acctualy...
2006-07-30 22:02:21 · answer #3 · answered by General Custer 4 · 0⤊ 0⤋