I'm 18 and want to retire at 19 (just kidding) but I want to be rich, any stock genius's out there?
2006-09-08 16:09:30 · 17 answers · asked by Challen 3 in Business & Finance ➔ Other - Business & Finance
Just win the lottery dude lol
2006-09-08 16:11:25 · answer #1 · answered by pOoP 2 · 0⤊ 0⤋
Brief advise, but complete by no means. ---
Find a mutual fund with a good track record and a manger that has been managing the fund for years. At your age, the mutual fund should be 90-100% stocks and 0% bonds. It should be considered a "GROWTH" fund. And it should have fees and expenses that are below average. Don't be suckered by glitzy high fee and expense funds. Buy, add to it, be patient and hold on. Just as an example, I own this one:
http://finance.yahoo.com/q?s=AGTHX
Once you start making more money, you can add one or two other funds and real estate funds. Don't buy individual stocks unless you are a seasoned bona fide expert. And that does not include many people.
Investing should not be an overly exciting process that you pay attention to every single day. (unless it is your job) It is the loooooong term results that count.
And go to a licensed broker. I'm sure someone in your family knows and uses one that can be trusted.
2006-09-08 16:39:03 · answer #2 · answered by Zak 5 · 0⤊ 0⤋
Best advice would be to not take any investment advice from anyone on Yahoo! Answers. It is awesome that you are thinking about these type of things at such a young age. Start reading...there are plenty of investment books at the library for you and it would be an excellent place to start for an 18 year old. I expect that if you are truly serious about this, with a little bit of luck you can and will become financially successful. Good luck!!!
2006-09-08 16:15:58 · answer #3 · answered by Windseeker_1 6 · 0⤊ 0⤋
I'm 41 and would like to retire at 42. I hope someone gives you a "correct" answer because I've been seeking this answer for over 20 years. My 401k is building, but I can't get into it until I'm 59 1/2 or I'll be penalized - tax Wise ya know. LOL
2006-09-08 16:13:28 · answer #4 · answered by Phyllobates 7 · 0⤊ 0⤋
We just got a tip from an accountant friend to invest in a stock called NVEC. If you are in Texas I can also give you a business opportunity
2006-09-08 16:12:13 · answer #5 · answered by KELLY H 3 · 0⤊ 0⤋
Stocks will not be the answer to your dreams it definitely might wipe out your dreams, need to work hard kid look at warren buffett he striked gold when he was young but still working til date
2006-09-08 16:18:08 · answer #6 · answered by Robert 1 · 0⤊ 0⤋
not really but suggest checking w. a broker before you do anything. check out nyse.com and there youll see ok stocks. go w/ a stock you feel safe w/. I suggest no restaraunts like mcdonalds.
2006-09-08 16:12:02 · answer #7 · answered by evilhomer12345 6 · 0⤊ 0⤋
This is a hard question, as you want to invest money (hard earned money at that). You should consult an investment specialist; they would know better.
2006-09-08 16:11:09 · answer #8 · answered by It is . . . 5 · 0⤊ 0⤋
Real Estate
2006-09-08 16:12:04 · answer #9 · answered by skirossignolwhistler 1 · 0⤊ 0⤋
you need to make sure you diversify the portfolio you want to build. If you like a company or product, invest in it.
2006-09-08 16:13:36 · answer #10 · answered by WitchTwo 6 · 0⤊ 0⤋