i need to know how to start off.........my parents dont invest so i need ur help. how do i start off? how much money minimum do i need? where do i buy mutual funds? wat corporation should i invest in?
2006-11-01 15:04:12 · 12 answers · asked by crispy chicken 2 in Business & Finance ➔ Investing
I will try to answer your questions in as short as possible:
1. how do i start off? -- Visit website like finance.yahoo.com, vanguard.com and read about mutual funds. They have very good and easy to understand information.
2.how much money minimum do i need? -- This depends on the mutual fund company. for example, vanguard asks for $3000 minimum for most funds. At T rowe price you can start with as low as $50, if you sign up for automatic investment plan.
3. where do i buy mutual funds -- you can buy them directly from mutual fund company (ex. vanguard.com, fidelity.com, etc) or you can purchase them from online broker (schwab.com, ameritrade.com, etc.). Call them up and discuss your investment objectives. These guys are really good and helpful.
4. wat corporation should i invest in? -- its upto you. whatever works best for you. for mutual funds i like vanguard.com and fidelity.com. Both are very investor friendly and they offer some very low expense ration funds.
Hope this helps.
2006-11-01 17:04:51 · answer #1 · answered by ac 2 · 0⤊ 0⤋
Stay away from active mutual funds since the majority don't beat the passive ETF SPY (the SP 500). There are a couple hundred ETFs, which are basically a basket of stocks ran by mutual fund companies, which give better tax breaks (you pay taxes you never see when somebody sells their shares of a standard mutual fund), some of which can be shorted (regular mutual funds can't be shorted) and you can put stops on them in case the ETF goes south. You can buy ETFs like regular stocks. If you don't want to use an online broker, you can use the phone and sign up with a regular broker and then just tell him/her to buy an ETF. A regular broker ,might have a minimum, but the online brokers usually don't. Also take into account the buy and sell fees (which are all over the place so shop around). Make sure you take the buy and sell fee into consideration when looking at how much you want to invest. For instance if the buy fee was $7, if you invested $100, it would be a 7% dent in your investment, but if it was $1,200 the dent would only be .58%.
2006-11-01 15:43:53 · answer #2 · answered by gregory_dittman 7 · 0⤊ 0⤋
Why buy mutual funds? You give up control of your investment funds...You pay on-going fees even if the fund makes no money!!
First you need to spend some time getting educated in investing or you won't have your capital long. (What's Capital? = well, that's the first thing you can look up at the Library)
A subscription to John Dessauer's Investors World would be money well spent.
He's a great Mentor to many people.
Don't put your money down until you comprehend the risks as well as the rewards.
Oh - read Robert Kiyosaki's best seller: Rich Dad, Poor Dad to see how business really works. (not taught in school)
Good Fortune to You!
2006-11-01 15:12:41 · answer #3 · answered by Smilin' Fred 4 · 0⤊ 0⤋
You would need to open an account with either a brokerage or directly with a mutual fund firm. Minimums vary depending on the fund, but usually range anywhere from $250 to $2500.
To select particular funds, I would suggest reading personal finance magazines, such as Money or Kiplinger. Each year, Money publishes a list of what they think are the 65 best funds out there. Likewise, Kiplinger publishes a list of 25.
If you don't want to worry about actively managing your funds, I would suggest investing in index funds (which track particular segments, such as the S&P 500) or target date funds (which adjust a stock/bond ratio as you age....for example, if you plan to retire around the year 2040, you can invest in a target fund for that year....at the present, the fund will be heavily invested in stocks, but as you approach 2040, it will become more heavily invested in bonds).
2006-11-01 15:18:43 · answer #4 · answered by Jason 3 · 0⤊ 0⤋
I would suggest you open an account at Scottrade. I believe the minimum is $250. They offer $7 per online trade - that is a good deal.
For investing ideas I think the best way to get started is to invest in what the best traders are buying. This is the idea behind the site, http://www.Top10Traders.com - this is a free site that lets you create a portfolio of stocks with $100,000 in "play" money. Each day the site ranks the best performing portfolios, so you can see how your picks perform compared to other investors. You can also read posts on investing from the best traders, as well as share your own investing ideas.
Here are this month's best traders:
http://www.top10traders.com/Top10Standings.aspx
Good Luck!
2006-11-01 16:00:40 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Actually don't need to talk to a professional advisor at all. Need to start investing as soon as you can. Schwab.com has all the tools & info. SWPIX is a S&P 500 index fund. A good core holding. Add gold & global exposure as you can. Some Reits or reit funds for income. You must beat inflation after taxes or will have trouble reaching your goals. That means stocks.
2006-11-02 02:13:20 · answer #6 · answered by vegas_iwish 5 · 0⤊ 0⤋
Binary trading is notoriously risky but if you follow a special method I've learned you can earn good money at almost no risk. This is the site I use: ( http://forexsignal.kyma.info ) I definitely recommend subscribing to this site in particular. I was a bit weary of binary trading from all the bad hype they receive but this site is pretty legit. This course explain everything you need to start a very profitable trading activity. Remember never invest 100% of your capital into any one security and never have 100% of your capital invested and a good understanding of the rules
2014-10-03 20:22:16 · answer #7 · answered by Anonymous · 0⤊ 0⤋
In binary options you will have the possibility to predict the movement of various assets such as stocks, currency pairs, commodities and indices. Learn how you can make money trading binary options https://tr.im/LSDHj
An option has only two outcomes (hence the name “binary” options). This is because the value of an asset can only go up or down during a given time frame. Your task will be to predict if the value of an asset with either go up or down during a certain amount of time.
2016-04-30 22:55:50 · answer #8 · answered by ? 3 · 0⤊ 0⤋
use Internet or books to start your education. Some funds allow you to direct invest with them. Read the prospectus.
2006-11-05 14:41:54 · answer #9 · answered by Bruce (Bill) B 2 · 0⤊ 0⤋
go to your bank and ask for the mutual funds program they have.
2006-11-01 15:23:41 · answer #10 · answered by K 2 · 0⤊ 0⤋