I'm not looking for long term profits. I'm a college boy so I'm looking for something quick. Where should I start? Any good guides or books on this?
2007-01-31 15:33:42 · 10 answers · asked by inquisitive 1 in Business & Finance ➔ Investing
I would suggest against it. Usually, to start investing, a more substantive amount of money, like $10,000 is expected with a brokerage account. I would suggest paying off any high rate debt first. Then, after paying off the debt, consider opening a high yield savings account. There are banks (citiBank direct, for instance) that offer reasonable returns in the 5% range.
Please note: If you make more than $10 in interest, the feds will tax that money at 40% in some cases. You might consider opening up a Roth IRA and allowing the money to grow tax free and withdrawing the money at retirement tax free too. If this is the route you consider, invest in an ETF or mutual fund with low fees. Check out Morningstar ratings to find a good fund to use.
Or - there is the ultimate college solution: Spend it on a massive kegger and make $2000. Be sure to buy wristbands.
2007-01-31 15:43:23 · answer #1 · answered by camrylev6 2 · 1⤊ 0⤋
Don't let a broker choose for you they rob people. Do online trading you have control of your money. BOOKS Investing for dumbies, 24 Essential Lessons for Investment Success, Try deversifing porfolio with new stocks, High risk stocks, and some low risk growth stocks, Right now I'm looking for new stocks, so far found BMSTA, MXAW, SCXN, NWLM. For growth and divedens Iam looking at TSM. I go through Trade King online, Buy low priced stocks around 10 cents if it rises 5 cents you make half of your money profit you invest 100 dollars you make 50 dollars profit I have money in MNHG and SCPS.
2007-02-08 12:15:11 · answer #2 · answered by franksprung 3 · 0⤊ 0⤋
Stocks are like a roller coaster and you have to be able to wait out the full ride or else you risk loosing your $$.
Trying for quick is about on par with going to Vegas, maybe you hit and maybe you don't.
For all the essential investing info use Yahoo, it is FREE and has all the daily stock and bond activity plus full profiles on the companies and their balance sheet stats.
Investing ed is about 1/2 way down on the left
http://finance.yahoo.com/
2007-01-31 23:54:58 · answer #3 · answered by kate 7 · 0⤊ 0⤋
Looking for quick $$ in the market is like gambling. Fast money = high risk. You might as well play roulette.
2007-02-07 12:44:24 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Of course. You can make money with any amount. Watch for junk bonds that are like less than $10. There are plenty of sites that tell you how to get started early.
2007-02-08 16:15:11 · answer #5 · answered by darshunk 2 · 0⤊ 0⤋
Yes, but you will be in a very high risk situation. If you cannot afford to loose the $500, dont do it. I used to sell penny stocks, and they are very high risk, hi return.
2007-01-31 23:43:06 · answer #6 · answered by Anonymous · 0⤊ 0⤋
yes, but to make any "real" money you would have to do something stupid like buy an out-of-the money option. I open a no-load mutual fund account (fidelity, Vanguard) and invest it that way...then try to add to it. That's where the real value is...making good returns and constantly adding to it....
2007-02-06 16:50:15 · answer #7 · answered by Monument 2 · 0⤊ 0⤋
yes buy shares of companies and keep watch of them carefully but dont go overboard as u might lose all your money.
2007-01-31 23:37:51 · answer #8 · answered by Avinesh L 1 · 1⤊ 0⤋
Yes.
2007-02-01 04:51:56 · answer #9 · answered by Anonymous · 0⤊ 1⤋
Not really the commissions will kill you put it in a CD
2007-02-06 12:36:36 · answer #10 · answered by ? 6 · 0⤊ 0⤋