I want to start buying stock. I am 16 years old. I know what companies im going to invest in.
2006-12-28 15:49:41 · 7 answers · asked by Anonymous in Business & Finance ➔ Investing
Open an IRA (your parents will need to sign as custodians, but the account will be all yours) and contribute a small amount of money on a regular basis. Invest it in a large stock fund such as an S&P 500 index fund. True, it isn't glamorous and you aren't going to become filthy rich by next week.
You are, however, almost certainly going to be a millionaire when you retire if you follow this simple strategy.
2006-12-28 17:06:57 · answer #1 · answered by dwightschrute_blackbelt 2 · 0⤊ 0⤋
If I were you, I would probably put it off and learn a little bit more about the stock market. I would recommend reading anything by Peter Lynch. In his books, Peter touches on the basics of investing. Also, you should probably go into the market with 5 grand to make any kind of difference. I had to learn this the hard way, but commission kills. You are still very young and the stock market will always be there. So take advantage of your young age, start saving up, and educate yourself about the stock market. Good Luck!
I would also recommend looking into a CD or Money Market.
2006-12-29 00:48:47 · answer #2 · answered by The Red One 1 · 0⤊ 0⤋
A parent would have to co-sign on an investment account- say with Ameritrade or some such company. You are too young to open your own account. You could also, with the same co-sign, open an account with an investment firm like Edward Jones or Morgan Stanley. Some may be more friendly towards a minor they wish to cultivate as a long term client. Call around.
2006-12-28 23:56:23 · answer #3 · answered by justwondering 6 · 0⤊ 0⤋
Hi, i suggest a great site with plenty of Issues related to your Investing and everything around it. it also provide clear and accurate answer to many common questions.
http://investing.sitesled.com/
I am sure that you can get your answers in this website.
Good Luck and Best Wishes!
2006-12-29 01:40:15 · answer #4 · answered by Anonymous · 0⤊ 0⤋
go to the stock market
2006-12-28 23:53:16 · answer #5 · answered by kitty 2 · 0⤊ 0⤋
do homework mock trading
use aptistock freeware with buy sell signal
ebooks on 4shared.com
try commodity future
2006-12-29 03:46:09 · answer #6 · answered by dinu_pawar 5 · 0⤊ 0⤋
talk to investment co
2006-12-28 23:55:04 · answer #7 · answered by barry r 6 · 0⤊ 0⤋