I don't know anything about the stock market, and I made about 600 dollars this summer. I really want to invest in something, but i don't know what. Also, how much should I invest?
2007-09-30 16:31:52 · 6 answers · asked by catherine bunny 3 in Business & Finance ➔ Investing
You're probably going to need more money to start investing, something like $2,500 to $3,000. $600 won't get you much...perhaps no more then a few shares of any company.
I would put your money into a savings account and just keep adding to the balance until you reach that goal of $2000.
But if you really want to jump into the stocks with the money you have, open an online trading account such as E-Trade of Charles Schwab. When you have more money, you can transfer funds to your brokerage account. You should start with an index fund such as QQQQ to get started. Purchase some share and just let it sit there.
Now one rule to remember is not to put all your eggs in one basket, but since you have little money to start with the index fund is a good place to start. You could buy one share of this and one share of that, but that won't make you any money so again go with the index fund.
Good luck! Be patient, it takes time to build a good wealth.
2007-09-30 17:31:13 · answer #1 · answered by Gary 4 · 0⤊ 0⤋
To purchase stocks you need to deposit $5000 to $10,000 with a broker .
You also need to study like , yahoo finance for a year or else you will bust in a week .
You really want to flush a whole summer of work ?
For now , put it in ING or Citi eSavings at about 4 to 5 % .
http://home.ingdirect.com/
https://web.da-us.citibank.com/cgi-bin/citifi/scripts/home/visitor_homepage.jsp?com.broadvision.session.new=Yes
By the time you get to $5000 , you should have finished studying the education link under the investing tab on Yahoo finance .
http://finance.yahoo.com/
congrats on the great summer !
>
2007-09-30 16:40:47 · answer #2 · answered by kate 7 · 0⤊ 0⤋
Invest in gold and private prison stock those are both a lucrative plus!!!!
2007-09-30 16:39:25 · answer #3 · answered by Anonymous · 0⤊ 0⤋
There used to be a research performed with monkeys, kindergardners and inventory agents. kindergardners picked the shares they knew: Disney, toys'r'us, and so forth. Stock agents did it their manner. Ststistics, and so forth. And the monkeys picked shares by means of throwing darts at a wall.. lengthy tale quick.... inventory agents got here in final. monkeys moment, and kindergardners got here in first... Pick shares you already know of and purchase merchandise from.
2016-09-05 13:15:37 · answer #4 · answered by Anonymous · 0⤊ 0⤋
look into oil cause oil will keep going up cause in the futer we are gonna turn to alternative fuels and you should try ethinal
and to be a good invester u have to know when to buy and when to sell
2007-09-30 16:59:23 · answer #5 · answered by Anonymous · 0⤊ 0⤋
lvs, mgm.
some oil stocks as well.
some retailers.
it is a bit high now. wait for some dips to buy. they always dip.
start with 50,000 first.
2007-09-30 16:35:24 · answer #6 · answered by fedup 3 · 0⤊ 0⤋