stock help?

Question

im only 15. i want to get rich from 300$$ how can i do this?? i want stock but dont know what to buy. what stock sude i get? and where do i buy it from?

Answer 1

If you're suggesting becoming "rich" from that single investment of $300, it's simply not going to happen.

If you invest that $300 in (whatever) over the next 50 years at an average annual return of 12% (very optimistic), you would only have $84,601; and that's ignoring the effects of inflation and taxes. In 2057, at 3.5% inflation, that will probably be about three months of an average household income.

The way to wealth is slow and steady. At your age, you've got lots of time if you maintain a little discipline and save systematically. If you save and/or invest that $300 each month over 30 years in tax-deferred vehicles at only 8%, you will have nearly half a million dollars.

Answer 2

Buy the S&P 500 Spiders ... outperforms 80% of mutual funds, you don't have to watch it daily, and it has very, very low fees if you invest correctly. Steps:
(1) Set up an IRA account with Vanguaard or someone similar
(2) Use Vanguard (or other firm) to help you set up the IRA account
(3) Invest your money in S&P 500 and forget about it for 60 years
(4) at 11% annual return, $300 should grow to about $157,000 in 60 years

Answer 3

An easy one is open an account at sharebuilders.com and buy some Diamonds, DIA. Everytime you hear the business news on TV, they will say the Dow Jones was up or down so many "points" (dollars). DIA is an exchange traded fund (ETF) that invests in the Dow Jones Industrial stocks. So your diamonds will be something that you can follow almost every business day, effortlessly, while you get on with your life--the place where real riches can sometimes be found, even without the dollar signs.