What is the best way for a young person to invest into mutual funds?

Question

I'm a student and would like to invest money into the market. What are good investing sites and were can I get helpful advice for choosing stock?

Answer 1

I agree with Stephen J about mutual funds.
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/top10standin...

Good luck !

Answer 2

I recommend one of the Target funds from Vanguard. They are agressive depending on your age if you're saving for retirement and can grow over time. If it's just to save money, I would recommend their STAR fund. When you learn more about the market, you can move your money to one of their more agressive or conservative funds. Mutual Funds are the only way to go for someone who is not familiar with the market. The great thing about them is that they are diversified meaning that they hold a variety of different stocks and not just one or two which can tank and all your money is gone. The great thing about Vanguard is that they are the lowest costing in the industry which means more of your money works for you instead of paying the managers and staff. Whatever you decide, make sure you watch expenses (listed as sales load, sales charge, 12-1b fees, expense ratio). Anything over 1% is too much. Good Luck!

Answer 3

Don't buy mutual funds. Mutual funds have managers and employees who all have to get paid, which cuts into your earnings. Because of this, they commonly pay advisers who recommend them, which further cuts into your earnings.

Buy stocks. It means a little more research, but it isn't too hard to do with all the tools available online. I like Yahoo! Finance pretty well. Read articles in the Finance section on Yahoo! and in MSN Money to learn more about the market and how it works. Then, use a stock screener to help identify companies that meet good criteria. I like Yahoo!'s better than MSN's.

Answer 4

Go to Vanguard.com and have an advisor help you establish an investment strategy, or simply use a good balanced fund and let the manager of the fund do their thing. Vanguard Star Fund is a good balanced fund.

Answer 5

Your Best bet, Would to contact a State Farm Agent, they have different types of Mutual Fund plans that they offer, different risk that you can take, depending on how comfortable you feel. Go to Statefarm.com Good Look!!!

Answer 6

By asking a well off relative for the cash, then invest it in a brothel in Bangkok. Business is booming there according to some of my military friends.

Answer 7

try ameriprise or scottrade