Hi, I am interested in investing and stocks and i had a couple questions. How old do you have to be to invest? I'm 16 and i have a part-time job which i hope to put that money into either stocks or something i can see grow over time. Also, do most of you (stock investors) use companies such as TDameritrade or Charles Schwab to help you with investing? Or would stocks not be a good idea for me at my age?
I have read a bit on Suze Ormans book but i feel a bit overwhelemed. I plan on putting 500 to start so i guess i would have to invest into small companies? Any help or ideas would be very appreciated.
2007-12-07 13:53:02 · 13 answers · asked by pendulum 1 in Business & Finance ➔ Investing
Not individual stocks, but growth mutual funds. You can open up a Schwab account and with it, invest in any one of thousands of different funds. Some have higher entry levels than others, but there are some where you can get started with a very small amount and add small amounts over time. It's best to start while you're young. You don't get rich quick, you get rich by investing small amounts of money at regular intervals over a long period of time.
Morningstar.com is an excellent place to research funds, and you don't need their pay service to help you. The free info is more than enough for a beginner.
2007-12-07 14:04:33 · answer #1 · answered by curtisports2 7 · 1⤊ 1⤋
Investing in stocks is an excellent idea, but only if you can leave the money invested to accumulate and grow over the years. You cannot open your own investment account until you are 18. But a parent can do it for you as a trustee.
The most important factors for investing in stocks are:
a) To buy only the strongest and most stable stocks, so that you don't lose money on poor-performing stocks;
b) To spread your investment over many different stocks so that you don't put all your eggs in one basket;
c) To buy and hold, so that you don't pay brokerage fees to buy and sell stocks.
The best way to achieve these objectives is to invest in a stock index fund like the Vanguard 500 Stock Index Fund, which mimics the performance of like the S&P 500 Stock Index.
2007-12-07 14:09:11 · answer #2 · answered by John L. L 2 · 0⤊ 0⤋
Go to Fidelity.com and ask them this same question. Then read the business section of you news paper every day. This way you can see the stocks that are going up or down and after awhile you can see a pattern and get a grip on what to invest in. The bummer in doing that is you will also see stocks/bonds you should have invested in but let them go because they were not doing that good at that time. Hey that is the game of investment. Good luck and smart thinking.
2007-12-07 14:02:09 · answer #3 · answered by Shellback 6 · 0⤊ 0⤋
F - (Buy) I am long Ford. I think Ford's chances of a turn around are worth the risk. Alan Mulally will be a good CEO, and he did a good job of turning around Boeing. My price target over the next 12 months is $15 / share. TIVO - (Sell) Tivo has had a nice run this year, and I like their product. Their balance sheet is questionable. I think eventually, Tivo will be absorbed (probably by a cable company), and that is what is primarily supporting the stock price. I don't think speculation of a buyout is sufficient reason to buy a stock, so I would avoid. SIRI - (Hold) Great product, questionable stock. The only reason I don't have a sell on Sirius is because a think it has some support at its current price level. Sirius has yet to turn a profit, and is probably at least a year away from becoming profitable. The biggest problem with this stock is dilution. They are constantly devaluing the stock by having secondary stock offerings. They are also paying most of Howard Stern's salary in stock, which is the same effect as have a secondary offering.
2016-05-22 02:27:55 · answer #4 · answered by ? 3 · 0⤊ 0⤋
At sixteen, I'd suggest that you invest in time used to learn to improve your mind.
If you have an abundance of funds, perhaps Stocks and Bonds may be an answer; but if not, and your goal is to earn money, do such jobs as lawn mowing, and other odd jobs as they may come.
Good buying of Stocks can be productive in the long run. Self-employment can often be even more lucrative.
2007-12-07 14:07:29 · answer #5 · answered by bobbutler 2 · 1⤊ 0⤋
Well, first of all you have to be at least 18 years of age to open an account at most brokerage firms. Until you get to that age, I suggest you just put you money in a savings account. It is also a good idea to educate yourself about the stock market. I reccomend "One up on Wall St." by Peter Lynch (easy to read, lots of good information, Peter Lynch was the most successful mutual fund manager.. ever).
Also, give my blog a visit. From picking the right broker to basic analysis of companies, I touch ground on everything a beginner needs to know.
2007-12-07 15:00:29 · answer #6 · answered by The Professional 2 · 0⤊ 0⤋
Make overseas investment and stop thinking of buying US Stocks.
You will get 13% rate of interest in Belarusian banks.
Invest $500 and get back $650 with no risk.
I personally prefer to get maximum guaranteed return. Belarusian Webmasters offer investors 30%+ per year. They need small sums of money.
2007-12-08 02:09:53 · answer #7 · answered by BestINVEST 3 · 0⤊ 0⤋
I HAVE A FRIEND WHO HAS DONE EXTREMELY WELL INVESTING MONEY. IT IS NOT IMPORTANT TO TELL YOU HOW MUCH HE HAS MADE. HE HAS A VERY BASIC FOUNDATION FOR AN INVESTMENT STRATEGY. HE INVESTS MOST OF HIS MONEY INTO THREE CATEGORIES. HEALTH CARE AND MEDICINE,WEAPONS, AND ENERGY. HE TOLD ME THAT THESE ARE THREE THINGS WE WILL ALWAYS NEED. GOOD LUCK BOB
2007-12-07 14:05:00 · answer #8 · answered by Anonymous · 0⤊ 0⤋
investing is a GREAT idea at your age
go see a financial advisor
they will get you sorted no worries
2007-12-07 13:57:02 · answer #9 · answered by boris 3 · 0⤊ 0⤋
You go listening to me about money & we'll both see each other at the poor line!
2007-12-07 13:56:07 · answer #10 · answered by Anonymous · 1⤊ 0⤋