Oct
25
I Am 20 Year Old College Studenet Interested In Investing Some Money Is The Mark…?
ByWhats the best way to go about doing this; who should i invest my money with and how do i get started? Can anyone give me some usefull advice?
I’m a college student in Chicago and I work for a major whole sale store.
11 Comments
October 25th, 2009 at 11:18 am
First, edumacate yourself(hee hee).
Educate yourself before you get into this.
If you can afford to buy the Investools education, do it.
http://www.Investools.com
I’ve started my education @ 4 months ago, and I’ve learned so much.
I am now paper trading. It’s a pretend account with pretend $, but investing in real stocks. It’s awesome for practicing and getting some experience and confidence before investing your hard earned $.
Also believe in yourself, talk to successful investors and keep asking questions!
Do well, John C
October 25th, 2009 at 11:49 am
At your age, what you need to do is invest to never lose your principle. After 3 to 5 years you can become your own bank. When you have enough to lose without feeling the loss, than you invest in the market. That will also give you time to learn how. Invest 5 to 10 percent of your annual income after taxes. Or pay yourself 1 hour of pay a day. Pay yourself first. Indexed Universal Life policy will make you wealthy and free of the Governments qualified investments. Good Luck
October 25th, 2009 at 12:51 pm
i u have money to invest you may invest in a company in india which will give more return
i you want more details please e-mail to the company mail-id
msreeho@yahoo.com
Malayalasree Publications and Communications Ltd.
Kerala, India
October 25th, 2009 at 5:28 pm
TD Ameritrade- open an account
read books on T/A or go to stockcharts.com
take baby steps with stocks
then open up a margin account w/ stock option’s
short stocks
then you’re ready for stock options
read books on stock options
buy calls when stocks are oversold
buy puts when stocks are overbought
October 25th, 2009 at 9:53 pm
I wish I could trade places with you!!
1) Live frugally
2) Resist the temptation to use debt to finance your lifestyle.
3) I can recommend a very good book I just read. Rule #1 by Phil Town. Very simple and conservative guide to investing.
October 26th, 2009 at 2:09 am
scottrade – $7 a trade, only $500 minimum to open, real time info and quotes
get books about investing/trading, technical analysis for dummies
October 26th, 2009 at 5:14 am
Spend time reading the messages on some of yahoos financial message boards. try several till you find one where the posters seem knowledgeable. But take nothing as being the gospel truth. Everyone has opinion on how to invest with OTM ( other peoples money).
Watch Business News on TV, you’ll learn things, but keep in mind they are there to cheerlead the market. Cramers show is entertaining, but most consider him an idiot, don’t follow his advise.
My Advise, if you have money to gamble with get a scotttrade account. Investing In todays market it a gamble, I think its over sold, and is on its way down. But with an account opened you can be ready to invest when YOU think its bottomed out, and will be ready to jump in. If your just looking to get interest on your money, get a CD or put in in a money market fund,The rates are getting better with the rise in interest rates. At this time Im not big on mutual funds. (fees) Being young you can take financial risks, invest in safer vehicles when your older. Decide If your going short or long on your investments. If your in for the long haul, you could invest now and assume They’ll go up in the long run. Going short is just gambling, but thats how traders make money.
Good Luck
K
October 26th, 2009 at 8:23 am
Before you start thinking of investing money in the market try this: set up a safty net account incase one day you need the money, that way you dont have to tap your investments, try setting up an account at http://www.ing.com. once you have set up an account there andhave say 6 months worth of pay into it then you can start investing, try something like http://www.sharebuilder.com or scottrade.com
October 26th, 2009 at 9:29 am
TD Ameritrade.
Top 3 Answerer in Business & Finance. (Vote for me)
October 26th, 2009 at 9:57 am
If you want to start simply until you learn or if you have limited funds to invest, contact Vanguard in Valley Forge, Penn and sign up for their Automatic Withdrawal Plan. They will take $ 50 ( or any amount you specify ) from your checking account each month. While you re doing this, go to your library and get some books by Peter Lynch, John Templeton, and others. Vanguard also has a wide selection of brochures that they will send to you.
October 26th, 2009 at 11:10 am
Don’t take other peoples’ advice.
Get educated and make your own decisions.
Start by reading “Common Stocks and Uncommon Profits”, by Philip Fisher. Warren Buffet ascribes to his principles, which is a pretty good recommendation.