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Help with investing? |
I'm in college and know very little about investing (stock market, mutual funds, ect.). I would like to start investing early to have a secure future. Any advice in how to start investing and what I should invest in would be helpful. Great, start learning the basics of fundamentals and technical analysis so you will be more informed in your investments. You can find all the basic info you need to learn on websites for free. Im a former day trader and my biggest advice is not to trade stocks yourself if youre not savvy to investing. Try starting out with an aggressive mutual fund or CDs. If youre banking is with a credit union they usually give the best rates on CD's. Otherwise leave it to the pros. I wouldnt put money with a particular broker to "trade" for you unless you are personally aware of this persons trading record. Most brokers are merely money managers and really know nothing about buying & selling stocks for profit (not at the under $1M investment level IMO) If youre still interested in trading yourself I would suggest whats called "paper trading" - you pick your stock "buy" it on paper (write it down - dont really buy it) pick a selling point ... see how you do. If youre good then maybe try a small amount with etrade. Fair warning: stay away from the OTC.BB as a new investor. Good luck! you can try cd's or high interest money market funds. or mutual finds if you want to try the stock market I would invest in a Roth IRA and look for more aggressive mutual funds. The nice thing about a Roth, is that you can withdraw $10,000 tax free to use as down payment on your first house. There are numerous "no-load" mutual funds you can find that are very good. No load means you don't have to pay a broker to invest for you. If you would like to do some research on some good funds, MorningStar and ValueLine publish very good reports on all the mutual funds. You can probably find these publications at your library (you can find them on-line too, but they charge). I've also learned a lot by listening to the radio, Bob Brinker's Money Talk is a good radio show (you can find his information on-line as well, but again there's a charge). You're a very smart guy - you'll be amazed at how fast you can accumulate a little wealth. I started investing in college too and have saved almost $100,000 in less than 10 years. At this moment in time, I would suggest investing in real estate if u intend to live in the house you buy for at least 3 years. The market for homes is very lucrative for people who are looking to settle down. Just remember to shop around and don't be afraid to make an offer at least 10% lower than the asking price. I suggest that you learn as much as you can about the stock market and various investment options, before you put any money into it. Always fund your retirement account to the fullest first. Go to www.investmentu.com and sign up for their free e-mail newsletter. Read it whenever it comes out. Try this: |
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