Investing for Beginners?
I’m 21 years old and interested in buying stock.
Problem is, I’ve never done this before and have no idea where to start. I’ve been told that I should wait a couple years until I’ve reached the point where I’ve started my career and can continuously invest my money. I’d like to start doing so now so when I do reach that point in a few years I’ll know what I’m doing and have a bit of a head start.
Any advice for someone new to the game?
Thanks for all your suggestions!
Good for you, the earlier you start the better, but dont rush into something your dont understand. Buy a copy of Smart Money, Money magazine and Kiplingers and then buy a low cost, no load mutual fund like Vanguard Total Market Index which will give you diversity. Good luck,
Comments
Good for you, the earlier you start the better, but dont rush into something your dont understand. Buy a copy of Smart Money, Money magazine and Kiplingers and then buy a low cost, no load mutual fund like Vanguard Total Market Index which will give you diversity. Good luck,
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well i have a friend who invested her money ten years ago in a 8.6% CD and it has tripled
Me i put money into the market and gained and lost so i am probably even about now nothing gained or lost so a waste of 10 years.
i would do something conservative and safe with growth regardless.
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Excellent question.
Start now.
There are programs where commissions are as low as $5. Read read read. Motley Fool website has loads of information for free.
Investing for Dummies is also pretty good.
Suggestion: put as much as possible into your IRA.
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Before you can buy shares you need money to buy them with, so you should budget out how much you can afford to invest.
Say start with 10% of your pay or whatever amount you are comfortable with.
The second you get paid, take that % of it and put it in another separate account where you won’t spend it.
Start this and keep doing it until you are ready to start buying shares. When you are ready, you will have the money there waiting for you.
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March 9th, 2010 at 8:48 pm
i really want to know. so im going to come back to this question.
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