Im a 21 year old married male and i want to start investing but dont know where to start or what to invest in. Does anyone have any tips or suggestion to helo me out?
2007-02-16 13:59:50 · 6 answers · asked by beyond0085 1 in Business & Finance ➔ Investing
i dont have to much money to play with only a couple of hundred.
2007-02-16 14:05:08 · update #1
There are two routes you can go.
If you plan to invest that money, get a Roth IRA (right now the limit is $4,000 a year) and buy either SPY (tracks the SP 500) or DIA (tracks the Dow Jones Industrials also known as the Dow or the Dow Jones). This will put you in the top 20% compared to mutual funds. Just ride the ups and downs. After 58 you can take it out at any time or never touch it. If you do take the money out, you don't pay any federal taxes on the money.
The second choice is to open up a non retirement account with a stock broker (online or over the phone) and buy SPY or DIA. You can sell whenever and you will have to pay taxes on the gains.
Don't day trade or buy annuities (you will get a better deal buying bonds). Stocks go up and down so don't panic.
2007-02-16 14:26:00 · answer #1 · answered by gregory_dittman 7 · 0⤊ 0⤋
In case you only have a couple of hundred to invest, I would not bother trying to treat it as if you had a couple of thousand. Instead I would use it to challenge yourself to learn. Pick a company with a stock market listing you can relate to, because of a hobby you have, the work you do, where you live, or anything else that makes it interesting for you. Than buy their stock and treat that purchase as if you own the company. Now start learning and reading about that company and learn as much as you can. You will find many clues that you can look up on the internet. While you are learning about "your" company, you will also pick up skills that you can apply to other companies or alternative investments. Gradually you will become a good knowledgeable investor, and maybe someday you will cherish your first purchase as the start of an exciting investment future.
2007-02-16 17:23:08 · answer #2 · answered by Cheanea 3 · 0⤊ 0⤋
If you are ready to face risk you will better to invest in shares,mutual funds etc.High risk high profit there is. The main advantage of mutual funds is risk diversification and high rate of return.
2007-02-20 17:16:30 · answer #3 · answered by sindhukannankattil 2 · 0⤊ 0⤋
Gregory's advice is spot on. Most mutual funds dont beat the S & P and charge large fees to go along with their subpar performance. You will get the best returns by following his advice.
2007-02-16 16:37:20 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Gregory's advice is good, and I agree that you should probably go with ETFs to start. ETFs are good because there are no minimums, and you can realistically diversify yourself with less than $1000. To learn more about ETFs and how you can use them to make a portfolio, I recommend reading this short article. http://www.valuestockreports.com/021907.htm
2007-02-20 19:16:39 · answer #5 · answered by Anonymous · 0⤊ 0⤋
A. Slowly
B. Read everything you can to get a balanced approach.
2007-02-16 15:26:01 · answer #6 · answered by Common Sense 7 · 0⤊ 0⤋