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Need some advice on investments. Any good ideas?? |
Need some advice on investments. Any good ideas?? Mail me your money in a plain brown box. I'll invest it for you. I have a great idea. Don't do anything.....yet. The first thing anyone needs to do before investing in anything is assesing their own situation. You should ask yourself these questions..... How much of my disposable income can i afford to invest?(experts say that even the very wealthy should not invest more than 50% of their DISPOSABLE income). Second, How old are you? Depending on your age you may want to steer clear of things that have higher risk. Third which ties in with number two, What kind of risk can I afford to take? Plain and simple, not everyone can afford the same risk. Someone who is 50 and soon to retire can't afford to take on a risky investment, because they do not have the same ability to earn back that money, if lost, as lets say a 25 year old. Finally and most importantly, don't invest in anything that you have not researched and understood. If you can not explain to someone else why it is a great invest idea, then you should definitly not buy it yourself. My personal rule is that if i can't convince my brother to invest with me, I find something new to try. Hope this helps.......Best of Luck. Maybe try www.stock-exc.com Get a Kiplinger or Money magazine and read all you can about Mutual funds and ETF's. There are tables in these magazines that show the results of the best funds for the last month and for the last three or more years. Choose a fund or ETF that has a high rate of return for the long term and for the short term but not necessarily high 1 year returns. Funds that have done the best for the last year seldom repeat it the next year. You need no broker for funds and no load funds are best for the short term. You will need a broker for ETF's and you will have to pay a commission. Yahoo Finance.com has daily charts for "best performing ETF's" and after you have invested in an ETF or mutual fund check it's progress often and follow it's holdings. Get all the books on investing you can and study, study, study before trying your hand at individual stocks. You might want to see what the best investors are buying and selling at http://www.top10traders.com - this is a free site that lets you create a portfolio of stocks with $100,000 in "play" money. Each day the site ranks the best performing portfolios, so you can see how your picks perform compared to other investors. You can read posts on investing from the best traders, as well as share your own investing ideas. There is a charting feature, so you can see how your portfolio performs compared to the S&P 500. Also, you can create your own "group" so that you can see how you are doing compared to your friends. actually right now if you do not have any investments better not make any until the Asian markets get back in control. (The Nikkei is getting hammered again today down -232 right about noon Toyko time) this is the makings of a serious correction and I have full stops in force on my portfolio. |
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