I had a teacher in elementary who said he didn't live pay check to pay check and he was into the stock market.Now that I'm in high school I have another teacher who says she doesn't live pay check to paycheck and she is also involved in the stock market.From hearing my two former teacher saying this and also if they miss a few pay check they will be ok I'm assuming its good to invest in the stock market.I'm just a 16 year old trying to plan his future I need and will a financial advisor or planner be able to help me with this.
2007-04-12 20:46:09 · 8 answers · asked by congresspark4life 1 in Business & Finance ➔ Investing
The best place to start learning about the stock market is 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 read posts on investing from the best traders, as well as share your own investing ideas. There is a charting feature, so you can see how your portfolio performs compared to the S&P 500. Also, you can create your own "group" so that you can see how you are doing compared to your friends.
Here are this month's best traders:
http://www.top10traders.com/Top10Standings.aspx
Good luck.
2007-04-13 14:28:47 · answer #1 · answered by Anonymous · 0⤊ 0⤋
trust me, you need ALOT of money in order to make a living just from the stock market. you wont be able to do it until at least your 40's, based on an average lifestyle. I'm a financial advisor with Edward Jones, and I can tell you now is probably NOT the time to invest. You should start investing AFTER college and you have built up some savings, because the market is volatile and you dont want to tie all your money up in the stock market.
When you are ready to invest though an investment advisor will help you with determining risk tolerance and your goals, so they can be helpful
2007-04-12 21:49:27 · answer #2 · answered by Sens Enforcer 4 · 0⤊ 0⤋
I would stay as far from advisors and planners as you can. The bottom line is they are salesmen, and only interested in sales. Furthermore, they often push investments like annuities, which pay them a higher commision. I'm pretty sure you can open a brokerage account at 16, and look to places like economicinves.com for help in assessing the market and what stocks are poised to grow over time. Being 16 and able to take a long term approach is a great position, and you should take advantage of it.
2007-04-13 00:02:24 · answer #3 · answered by redfearn_jc 2 · 0⤊ 0⤋
Well! i am very interesting in stock market too, but one thing to get you to that level is to get you into your college first. Then you can learn step by step by school and real market. You see your teacher as your way to go, then you see how well their knowledge? i hope you will be the best. Take your time.
2007-04-12 21:03:28 · answer #4 · answered by trile 1 · 0⤊ 0⤋
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2007-04-12 21:50:53 · answer #5 · answered by jess_b 1 · 0⤊ 0⤋
Wow!! You are skipping a year?
Try reading up on how it actually works and how you also cal lose the lot.
http://www.oag.state.ny.us/investors/invest_4.html
http://www.investmentu.com/IUEL/2004/20040309.html
Good luck, you'll need that too.
2007-04-12 20:54:25 · answer #6 · answered by Puppy Zwolle 7 · 0⤊ 0⤋
a lot of books here
http://www.modarba.com
2007-04-14 15:20:54 · answer #7 · answered by Anonymous · 0⤊ 0⤋
I can help you for FREE.
2007-04-13 14:01:01 · answer #8 · answered by Anonymous · 0⤊ 1⤋