stock question?

Question

i want to invest in stock, but i no nothing about it. My question is how can i learn more.. i am a single mother of 3 and im trying to find a way to get extra income.. i guess basically to compensate for the absent of an income being i support my children on my own ... tax season is coming up an instead of blow my money i want to invest it to get more....so maybe i can finally afford to get my kids the things they want rather then just the things they need. As a parent no one likes to see their children upset because this christmas mommy couldnt afford to get the game system and had to get clothes, becaues they need it. If anyone no how i can make extra money besides just stock can they please let me no!!!!

Answer 1

Learning about stocks and the market is more than a casual thing to do. You should go to sites like motleyfool.com and morningstar to understand market structure and how the things work. Going to Schwab or Fidelity and getting their education materials is also useful. But if its all too much and you don't have time, buying mutual funds, particularly market index funds is a cheap and easy way to get into the market. Don't expect huge returns that allow you to buy things for the kids every x-mas. The power of the market is to keep money in it and allow it to compound, so you can get them the really important things, like a college education in 10+ years. good luck tba

Answer 2

I was 16 years old when I started trading last summer, this year I made 40% returns, however

I don't think I'll be making much money this upcoming year 'cause I'm no good at trading. This year the market was a bull market so you could pretty much make money no matter where you put your money, it won't be the same next year.

Anyways, I learned from books and online sources.

The book was How to Make Money in Stocks by William O'Neil.

I also read Understanding Wall Street by some guy named Jeffery, link below but this book was really useless.

Both books were found at the local library

Theres a lot to be said about investing, hopefully you'll come across it all but I'd say that stock market investing is probably not the thing for you because you should never trade stocks with money that you need, it alters your judgement. There are other options available though, do your research

Answer 3

Find a competent broker who can advise you on where to start and what to do. Invest only money which you feel you will not need over the long haul. Otherwise go for mutual funds which pay less but are safer than stocks.

Answer 4

honestly, I would look into reading. it would go at your own pace and if you had questions you could always go back to the section. I always recommend people look into Jim Cramer's books, as they helped me in the beginning. They are perfect at breaking down the Wall Street gibberish and actually walking you through on picking good stocks. Plus, he has a radio show you can tune in to, RealMoney, and/or his TV show on CNBC, MadMoney. I would suggest getting his two most recent books, starting with the recently published book. These have all the information from the prior books, but they touch on newer details and information.
Now this is just investing in stocks, not in personal finance. I would also look at Suze Orman, as she has made it a crusade to get people financially independent....so I would recommend her books as well.

Hope this helped.

Answer 5

find a good broker and or investment advisor. Be careful
I can give you a few names of brokers and advisors. But take care.

Answer 6

I would say meet with an investment adviser. You need to understand what risks you can and can't take, depending on your age and various other factors.