2006-12-07 00:28:17 · 8 answers · asked by Anonymous in Business & Finance ➔ Investing
Work hard and apply yourself to ANY job that you have.
Get an education.
Start saving at least 10% of everything you make to start a business or invest.
Peace!
2006-12-07 03:06:18 · answer #1 · answered by C 7 · 1⤊ 0⤋
OK you say you have e little money but if you listen to that trader you could wind up with no money. It all depends on how much money you have your age and how long can you invest for. If you want to get rich quick then play lotto or bet on long shots at the race track, Most likely you wont do well. But if you are willing to set up an investment program you can make good money over a long period of time. I have been investing over 40yrs now and I found out a long time ago that their are no get rich sceams that will make you rich very fast.Your best bet is to have the pros's invest your money for you. You can do this by investing in a mutual fund and add to it every month, reinvest all div and capital gains into more shares.
G E T
a good fund manager and have them go over your options. They have some very good funds and a good expense ratio, that is very important that means you keep more of the profits. If you don't know the stock market stay away from common stocks, You need at least $50,000 to get started the right way and it will cost you commissions and you wont know when to buy or sell. Get Forbes magazine and one on mutual funds. The most important thing is to protect your money the best you can.
2006-12-07 01:47:50 · answer #2 · answered by ? 6 · 0⤊ 0⤋
Read the book "The Wealthy Barber." One of the basic ideas in his book is that if you want to be rich, you should save the first 10% of your earnings every month. Invest this money in an IRA or general investment account.
If you save $150 per month and earn a 12% return on your money, you will have $150,000 in 20 years.
Steady, consistent investing in equity mutual funds. Whether the market is up or down. That's how you can get rich!
2006-12-07 01:31:29 · answer #3 · answered by MR MONEY 3 · 1⤊ 0⤋
Well, if you have really very little money, you need to look for a regular income before investing in equities or trading which includes forex.
That done, start investing in equities of companies having long and exemplary financial histories. You can plan how you want to invest - that is in equities. Systematic and regular monthly investment in a diversified group of equities will also balance your risk exposure.
Mutual funds manage equity investments from individual investors pretty well. morningstar.com may be helpfull in this regard.
Real estate is another area you can look for sometime midway through the course. Real estate hardly has any blot of letting down an investor in the past.
Equity/MF and real estate has consistently paid over 12% in the long run. Gold and diammonds may not yield as fast as other asset forms but they are stabler assets.
2006-12-07 02:17:08 · answer #4 · answered by Anonymous · 1⤊ 0⤋
It belongs how much money you have and how rich you would like to be.
With $10k you may start forex/cfd/stock trading. Actually you could start mini trading account with US$300 however it is too risky because after few fails you could lose the funds.
But firstly you should learn the trading and practice on demo account. If you would like to begin your self education in stock/fx trading I recommend you following books that are abc to all traders:
Market Wizards by Jack D. Schwager;
Technical Analysis by Jack D. Schwager;
Comprehensive Course on The Wave Principle by A.J. Frost and Robert Prechter;
Candlestick Charting Explained- Timeless Techniques for Trading Stocks and Futures by Gregory L. Morris;
Trading Chaos – Applying Expert Techniques to Maximize Your Profit by Bill Williams;
New Trading Dimensions by Bill Williams
If you don't want to leran and trade yourself then you should invest your money with experienced trader.
I'm forex trader and accept private investments. Usually I pay 5% monthly for 12 month. Reasonable investment amount US$10000 (ten thousand) and above but minimum could be from US$2K. If you are interesting in collaboration then PM or email me (press on my name) and I provide you with further investment details
2006-12-07 00:53:11 · answer #5 · answered by VP 3 · 0⤊ 1⤋
Marry a rich woman and don't sign a prenuptial agreement
2006-12-07 01:37:29 · answer #6 · answered by ? 4 · 0⤊ 1⤋
More money.
2006-12-07 07:38:23 · answer #7 · answered by Anonymous · 0⤊ 0⤋