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I don't have much money, and I do not know much about investing. But I do know that I need to start now and not later.
Any suggestions to help me secure a comfortable future?

2007-10-03 08:43:01 · 5 answers · asked by smsm223 2 in Business & Finance Investing

5 answers

Start with contributing to a 401K if you employer has one and increase your contributions as you can afford it until you are contributing the maximum allowable. If your employer does not have a 401K, start contributing to a Roth IRA and increase your contributions until you are contributing the maximum allowable. Whether a 401K or a Roth IRA, pick good mutual funds to invest in with good track records and spread the money around. Don't just let the money sit in a Money Market Account.

While doing that, pay down any loan debt you may have accumulated, i.e., credit card, auto loan, etc. After paying those off, open a savings account and save 3-6 months living expenses. Once you have done this, I would suggest opening a Roth IRA if you are already in an employer 401K and have maxed it out. After maxing out the Roth, a balanced mutual fund with a good track record is a good investment. MorningStar is a great place to research mutual funds.
Be patient, be regimented (invest on a regular basis) and don't be greedy. It will pay off!

2007-10-03 09:03:16 · answer #1 · answered by gprenn 2 · 0 0

You should take a look at the options you can find at: HTTP://HELP.LOANSVAULT.NET

RE What are the best investments for very little money?

I don't have much money, and I do not know much about investing. But I do know that I need to start now and not later.
Any suggestions to help me secure a comfortable future?

2014-09-11 08:26:07 · answer #2 · answered by Tremaine 1 · 0 0

First, you no longer have a penalty (at least in Scottrade and similar types of brokerages) for buying less than a full block of stock. So you can buy as few shares of lots of things as your money will allow.

Recently I saw an opportunity for Baker Hughes Tool but only had enough free money for something like 85 shares. The commission was still $7. It was still enough to turn a profit, but if the opportunity arose when I had more free cash then the marginal value would have been better.

Say you had a thousand available (better still, $1,007) for one trade. Then you subtract the commission for a trade and divide the remainder by the expected available price of the stock you are interested in. I say 'expected' because if the price is rising and you buy it "at market" then you may have to cough up some extra cash to cover if the price edges above your personal limit. Then you could place a limit order at your maximum number, but some other brokerages charge extra for anything other than market orders.

The Standard & Poors 500 list is a pretty broadly held list that people scrutinize often. They are listed for the comparatively safe prospects of market value growth. Not skyrockets by any stretch, but COMPARATIVELY solid firms. Here is a list of those that are under $10 per share: TLAB, DYN, Q, F, CPWR, CC, NOVL, LSI, UIS, JAVA, THC. Research them as best you can. Then if one interests you, buy some. By the way, Sharebuilder.com is good for buying with limited resources--but not speculative trading, there is difference. If you are investing and don't know what you are doing, then this list will help. You can certainly do worse.

2007-10-03 09:21:20 · answer #3 · answered by Rabbit 7 · 0 0

Try www.sharebuilder.com you can buy stocks for 4 dollars. It is based on paying a little bit at a time for the full price of the stock you want. For more details visit the website.

2007-10-03 10:20:13 · answer #4 · answered by bookworm 5 · 0 0

I recommend you to check this site that can solve your doubts WWW.FINANCE-SOLUTIONS.INFO

RE:What are the best investments for very little money?

2014-07-14 07:24:44 · answer #5 · answered by Anonymous · 0 0

For personal finnance

2015-04-22 06:47:43 · answer #6 · answered by Addy 1 · 0 0

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