what is the smartest way to invest money in money market, I don't make good money but wanted to start investing, and I don't know much about it , how should I start ?
2006-12-12 13:00:56 · 7 answers · asked by Anonymous in Business & Finance ➔ Investing
Read read read every book you can about investing.
Then search on here for "direct stock purchase plans" and contact companies that you are interested in to request their prospectus'. They are free to people who are interested in investing and you learn more about a company that way.
Some companies you can get into for as little as $50.oo and you can learn as you start slowly. I got my son started this way many years ago and now at the age of 20 his porfolio is larger than most 50 year olds.
Starting small and slow is nothing to be looked down at.. everyone starts somewhere. Its great you are interested in making you future brighter as only YOU can !!
Good luck !
2006-12-12 14:19:16 · answer #1 · answered by Kitty 6 · 0⤊ 0⤋
Save up $500. Open an account at Scottrade.com
Learn from the best. Study what the best investors are buying and selling. check out 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. There is also a charting feature , so you can see how your portfolio performs compared to the S&P 500.
Here are this month's best traders:
http://www.top10traders.com/Top10Standings.aspx
Good luck!
2006-12-12 21:43:02 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Before you do anything, do some research. You may be better off using your money for other purposes first, before you invest any of it. If you have a car loan or credit card debt for example, get rid of that first. Beyond that, put your savings into safe accounts (like a money market or CD) for emergencies and known future expenses (like your next car). Hope this helps.
2006-12-12 21:10:44 · answer #3 · answered by JBarleycorn 3 · 0⤊ 0⤋
The best way to invest money can be fount at http://www.4xmoneytrain.com
Just watch the two short movies and open a demo account to see how it works.
2006-12-12 22:40:30 · answer #4 · answered by Anonymous · 0⤊ 0⤋
new to investing myself, i would recommend reading a couple books to understand the art of investing, 2 good ones are ->
Rule #1 Blog: Phil Town on Investing - basically teaches you to invest in what you know
Jim Cramer's Mad Money - along with watching his show in cnbc - great source of information, he basically recommends great companies and teaches you how to invest smart!
BOOYAH!
2006-12-12 23:26:08 · answer #5 · answered by ryannnnn 1 · 0⤊ 0⤋
instead of CD's open an account at an online bank like ING or emigrant direct. fast easy and pays out better than the cd's (and for a whole LOT cheaper requirements than the cds out there) that is the best way in your situation.
2006-12-12 21:18:24 · answer #6 · answered by Anonymous · 0⤊ 0⤋
the best way for the beginners is to go to the http://4xgenie.com - you'll find everything there - I do trade with them and can not be more happy,really. It is really affordable(cheap!)3 weeks free trial(no credit card needed-just use code MSMS555 when signing up as a new member)
You'll be surprised.Good luck!
2006-12-12 22:14:26 · answer #7 · answered by sil 3 · 0⤊ 0⤋