I want to start investing whats a good idea?
2007-07-23 04:37:07 · 16 answers · asked by Ellie 2 in Business & Finance ➔ Investing
Investing in "individual" stocks takes a lot of knowledge and practice; so I would not suggest doing this until you understand completely how the stock markets work.
Vanguard.com is ideal for long term investors who want to learn about mutual funds, index funds, and exchange-traded-funds (ETFs). Trading funds is less risky than trying to trade "individual" stocks.
Unless you plan on spending everyday of your life looking at stock charts trying to determine the best time to get in and out of "individual" stocks, I would look into some sort of fund.
Also be very careful about asking for stock tips online. Most are probably worthless or contain unethical motives. Do not fall for any Pump-and-Dump scams.
As far as books go, I actually started out with the Investing for Dummies books, and they definitely pushed me in the right direction. To many other books have their own agendas in my opinion.
The websites below all contain plenty of FREE information to get you started in the right direction.
2007-07-24 01:18:53 · answer #1 · answered by Anonymous · 0⤊ 0⤋
If you had your income reduced by 15%, could you live comfortably enough? If so, you could be putting it into savings and starting to build a nest egg.
If you can put the money into a 401k or similar plan at work, it is an easy and reliable way to invest.
You also want to think about where you will be living for the next several years. Money invested in a home can give you a good return while making life more enjoyable.
If by investing you mean the stock market, I would recommend spending a few minutes everyday reading the finance section of your daily newspaper (paper or online).
2007-07-23 05:18:03 · answer #2 · answered by Menehune 7 · 1⤊ 0⤋
When I was your age I was looking for the same thing. I would always WISH I had something to invest in. It wasnt till I got older that I FINALLY discovered the stock market. Think about it. How many times do you hear people say "I'd like to play the stock market.. But I dont know how."
Well I was one of them growing up. It wasnt till I met the right people that turned me onto stocks that I started playing the market. And let me tell you. I WISH I started earlier. With enough education (Read books books and more books) you can see the market isnt just some random up and down thing. There are patterns. And eventually you learn to recognize those patterns and make money off of it. Sure with anything you can loose money. But whats your bank paying you (If you have a bank account) 3% 2%?
Good luck with whatever you decide to do!
2007-07-23 06:10:02 · answer #3 · answered by Anonymous · 1⤊ 0⤋
You will want to get an introduction on investing before you venture any serious money into it. A good primer on stocks, bonds, and mutual funds is your best place to start. Any of these sources should help:
1) Mutual Funds for Dummies, by Eric Tyson
2) http://www.invest-for-retirement.com has my free downloadable book
3) The Boglehead's Guide to Investing
4) http://www.investopedia.com has some tutorials
When you invest, you should first define your goal(s) and the time frame(s) associated with each goal. This will help orient you to pick a portfolio that has the correct amount of risk. This is because we can invest more aggressively for goals that are a long way off. However, for goals that are nearby, like a house purchase in 2 years, we should choose more conservative investments.
When your learn about investing, pay particular attention to these subjects:
- Asset allocation. Specifically, how your stock to bond ratio determines most of the risk and return of your portfolio in the long run.
- The benefits of rebalancing at periodic intervals.
- How costs impact your returns over long periods of time. For example, over a 30+ year period of time, even a 0.5% increase in annual expenses can cause you to fall short by $100,000 or more. (Chapter 19 of my book goes into more details about costs, and is probably the most useful chapter in the book.)
- The advantages of index mutual funds.
If you are looking for a low-cost mutual fund provider, take a look at these two:
- http://www.vanguard.com
- http://www.fidelity.com
2007-07-23 06:30:09 · answer #4 · answered by derobake 4 · 0⤊ 0⤋
First pay off any existing debts you may have. Then save your money until you have accumulated at least $1,000 . Any major bank such as Bank of America, Wells Fargo, Citigroup. Will be able to set you up with a account so you can buy securities such as CDs, Treasury Bills, and I believe stocks. Start with whatever you feel safe with. Last don't ever stop saving no matter what. I heard one time that 80% of the population was not prepared for retirement, don't let that happen to you. Good luck!
2007-07-23 04:49:11 · answer #5 · answered by egiese 1 · 1⤊ 1⤋
because of the fact because of the fact something is allegorical or metaphorical does no longer mean it particularly is mythological. there is an outstanding factor of distinction between those 2 issues. many times Myths have a "undying" portion of them. we don't comprehend while they got here approximately...it particularly is continually in a via long previous era. maximum of what's indexed interior the bible has extremely particular dates linked to it. scholars ought to argue approximately 3500BC or 3200BC..yet it particularly is a lot extra precise then most of the memories from Greek Mythology. additionally a Metaphor isn't comparable to delusion. A metaphor ability you're equating 2 issues as variety of an analogous. maximum in all probability what you meant became the two allegorically or figuratively. Many have stated that Adam and Eve are allegories for the unique team of people. this would not lead them to mythological. they are merely stand ins for the real team of people. yet, interior the top, we are in a position to quibble over definitions and categories. the #one million reason that bible questions with regard to the non-literal parts of the bible are published interior the R&S section is as a results of the fact they are the muse for a faith, extra so than a delusion. it is likewise the place the persons maximum qualified (in case you even dare to call it that) to respond to the question ensue to BE. So it has a minimum of as lots to do with the objective industry because of the fact the challenge. God Bless
2016-10-09 06:57:00 · answer #6 · answered by ? 4 · 0⤊ 0⤋
Its nice u r thinking of investment @ this age... As u r a new investor dont jump in to shares imm. just start with some trusted Mutual Funds... Mutual Funds r professional investor they will give u good returns on ur investments... same time keep listening to the biz. channels like.. Bloomberg, CNN,BBC,CNBC it will help u to understand more on investments... Happy Investing
2007-07-23 04:54:44 · answer #7 · answered by slimshady3in 4 · 1⤊ 0⤋
How about invest in yourself, by starting a business?
There are a ton of opportunities out there. Do your homework, look out for scams.
I own an on line travel agency with a great company I love it. It allows me to make money and spend time with my family. The commissions are the best in the industry, the tax deductions are awesome and the travel credentials are great. The company is publicly traded and a member of the BBB. The support, mentoring, and training is wonderful. I absolutely love what I do!
Good luck in all you do!
2007-07-23 04:43:05 · answer #8 · answered by amysgetaways 3 · 0⤊ 1⤋
Save early, often and as much as possible. Invest in index funds or ETFs as they spread out yours risk for you and generally have the lowest fees and distributions. Buy and hold it will make all the difference.
2007-07-23 04:41:03 · answer #9 · answered by Anonymous · 1⤊ 0⤋
Buy a global equity fund like Vanguard Global Equity (VHGEX). Check on the performance on January 1, 2010.
2007-07-23 06:34:36 · answer #10 · answered by Andy 3 · 0⤊ 0⤋