im steadily saving my money up but i want it to grow so i wanna know how to start investments. i am clueless about how it works n stuff and wanna know what the best choices are, the safest, and the ones that will get me big $$$. SOMEONE PLEASE HELP!!!!!!!!!!!!!!!
2007-05-07 16:56:14 · 7 answers · asked by Anonymous in Business & Finance ➔ Investing
Keep saving and read: Rich Dad Poor Dad for Teens. Saving money is important; but its not a plan. You need to understand the power of leverage; stocks and bonds, real estate, and owning your own businesses. That's how the rich do it.
M.
2007-05-07 17:03:52 · answer #1 · answered by Get Togetha 3 · 0⤊ 0⤋
Diversify your portfilio. Invest in a broad range of stocks, and bonds. At your young age you would probably do well with an aggressive growth portfolio. Dollar cost average, which means spending a set amount at regular intervals. Wrap up your purchases in a Keogh. any gains will be tax free provided that you adhere to the guidlines. Keep investing for years and let the wealth build. Don't constantly trade in and out of companies. Read some good books on the subject that encourage LONG TERM investing. Don't fall for the day trader mentality. It's all about the length of time in the market, not timing the market. Consider no load mutual funds to start.
2007-05-07 18:08:59 · answer #2 · answered by quiettype 2 · 0⤊ 0⤋
The safest is a CD or US Treasury Bonds. Buying stocks historically has been one of the best way to make big $$$. If the stock market is what you want, get your feet wet with a mutual fund that focuses on growth stocks.
Also, unlike the stock market which is at a historical high, the real estate market is a HUGE buyers market right now! Buy a house and rent it out. (Although the 17 year old thing is something that you will need to work around.)
2007-05-07 18:54:25 · answer #3 · answered by John Y 3 · 0⤊ 0⤋
with all the company's going under..best to stick with something your bank has...CD's and bonds stuff like that...something you know you will have when you are 65 years old. Some stock is not worth the paper it is written on anymore...all the money the people put in is all gone...better safe then sorry. Ypu may not get rich quick...but you will get there.
2007-05-07 17:07:19 · answer #4 · answered by jeeccentricx2 5 · 0⤊ 0⤋
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2007-05-07 19:29:10 · answer #5 · answered by Anonymous · 0⤊ 0⤋
you can try to open an account with your father, mother or someone major. then you transfer your money to this acount and you can begin to invest .When you sell, you retransfer your money to your account.
here's some good stocks: Royal bank of Canada (Ry)
Dynatec Corp. (Dy) on tsx
Bank of america
Google (goog)
2007-05-09 05:51:12 · answer #6 · answered by Anonymous · 0⤊ 1⤋
DKAM.OB Drinks America Trump Vodka like a $1.40 a share right now should be $3.50 by end of the year
2007-05-07 17:05:47 · answer #7 · answered by Anonymous · 0⤊ 2⤋