Im 15 and want to start investing money but don't know where to start! So please help me.
2007-08-25 17:01:29 · 6 answers · asked by storm_jordan 2 in Business & Finance ➔ Investing
Start by saving your money in a savings account. Develope good habits with your money. In the mean time, you should educate yourself about the stock market. Buy a book or better yet, visit my blog. My blog is dedicated to beginner investors who would like to learn where to start. Click on my profile, next to 'About Me', or you can copy and past the website in my source and take out the spaces (yahoo looks down on posting your blogspot site)
Good luck on your way to riches (hopefully)
2007-08-25 18:03:30 · answer #1 · answered by The Red One 1 · 0⤊ 0⤋
Congratulatios on your decision to save and invest for the future. and that too at very young age. You should know that you are very lucky that you know the advantages of starting early. Because when you start early you allow your investments to compound many times. I would rather suggest you to start a Systematic Investment Plan. Invest in a Mutual Funds and allocate your funds in short term and long term horizons. you might need some money for college educaiton, higher educaion, marriage, holidays so. keep these money in side and rest put it in the growth Mutual Funds. and dont touch it for long term. You can also invest in Shares as you are very young and young people have very high risk taking capacity and risk apetizer. So put your money to work and it will see a exponential growth after some 10-15 or more years. Good Luck
2007-08-26 00:30:03 · answer #2 · answered by Bhavesh Patel 2 · 0⤊ 0⤋
Don't think minors are allowed brokerage accounts .
Perhaps your parents could open it ?
Until then study the Yahoo finance site and the Investing Ed 101 links about 1/2 way down on the left . . .
http://finance.yahoo.com/education/begin_investing
You can create hypothetical portfolios to experiment with investing on Yahoo finance too .
And you need about $5000 to start in a brokerage account , do you have that already ?
Good Luck !
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2007-08-26 00:10:13 · answer #3 · answered by kate 7 · 0⤊ 0⤋
You need to have the financial knowledge before you start investing. I would suggest an alternative revenue source for you. You can actually check out Sunshine Empire. Provides healthy returns and is expanding.
2007-08-26 00:28:36 · answer #4 · answered by FurY_Kid 1 · 0⤊ 0⤋
The Perfect Place to start is to watch the show MadMoney on TV. He gives out great advice, to invest with your money. And also, to get the books. And on top of that check out, thestreet.com
2007-08-26 01:33:44 · answer #5 · answered by dustinkinney007 3 · 0⤊ 0⤋
consider buying an ETF of the whole market, like SPY or QQQQ. it automatically makes you diversified and allows you to dollar cost average.
2007-08-26 00:07:35 · answer #6 · answered by slara512 2 · 1⤊ 0⤋