 MF investment- new investor? |
| i hv done investment abut 1.5 in this yr but i hv done though hsbc can u suggest me any other way wihtout involving any bank or ... |
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 I am interested in using Scottrade to buy & sell. Any advice? |
| I have never invested or bought stock before. I have taken several investment classes but none of the classes taught us how to invest. I mean it was not hands on. I anybody familiar with Scottrade ... |
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 Teens in the stock market? |
| I am 16 year old.... and I would like to buy stock...... Can someone tell me how to get started ? where do i go to purchase?can i buy with cash or debit?... |
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 Does the stock market open on weekends? |
| I just wanted to know if the stock market opens on weekends.... |
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 What class gives you knowledge useful in investing? |
| I'm an accounting major...finishing up my second intermediate acct course. I still don't know exactly how to invest money or exactly how the stock market works. I haven't taken finance ... |
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 I purchased a few stocks and watched all day as they slipped.? |
| Being new I have not really gotten scared but when should I or at all? I purchased 100 shares of one companies stock and watched it all day and it closed at 5 cents below my purchase price should I ... |
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 Advice for stop loss when actively trading stocks? |
| At what percentage should a stop loss should be put on a specific stock?... |
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| How do you buy stock? |
| I have always wanted to buy stock and invest my money. Is there a good website that I can do this online? Also, how much money should I have before investing? I really want to invest into the flex ... |
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 Why are people such alarmists? |
Great Depression?
I dont think so.... |
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John | How Can a 17 year old open a stock market account? 10 points? |
I tried to do it but they said that you have to be 18 for it (and I do not want to wait!) I got my parents' permission for it and everything but I sitll don't know how do set up the account. What are the official procedures that I have to go through in order to set up an account? Do I have to do i tunder my mom's name? By the way, the brokerage that told me I can't do this is Fidelity. What are the best brokerages for me? I will probably be putting all or most of my money into a single stock for a while and then pulling out of it. I wan tlow fees of course. I also want to aviod taxes as much as possible (should I do a roth IRA? ) Thank you in advance for the help.
Note: I also may want to invest in mutual funds. |
 |
 
usfguy9985
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You must be 18 unless an adult opens a custodial account with you. I opened one when I was 15 using my mom as the custodial and myself as a authorized user on the account. Most company's won't allow you to have checks/debit cards linked to the account in your name, only the adult on the account. Etrade is a good company that offers custodial accounts, it costs $9.99/trade or $6.99/trade if you actively trade (30+/qtr). As for paying as little taxes as possible, stock trading profits/losses are tracked by most of the brokers. At the end of the year they will summarize your trades and give you a form to summit with your taxes. If you're day trading, the tax rate is higher than regular investing. I wouldn't recommend not claiming your earning, given that the company will have documentation to show what your past profits were. Also keep in mind that it is a custodial account and the primary (adult), on the account will be held responsible if audited by the IRS. Mutual Funds are a great thing to look into, especially if you are just starting out. Be careful putting all your money in one stock, most experts will tell you this is strongly ill-advised. |
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piet lul
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fudge a year on your application, nobody ever checks this anyway. |
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Greenback Party Member
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only custodial accts
you have to be proper legal age
in case they want to sue u |
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Micki
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Since you are technically still a minor, you may need a parent to do it with you. |
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Aaron B
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When you establish an account for a mutual fund, stock, etc., you need to set up a Uniform Trust to Minor Act (UTMA) account. I was 14 when I purchased my first mutual fund (I'm a total nerd). All I did was call up the mutual fund (Alger Fund) and indicate I wanted to establish an account. They mailed some paperwork for me and my parents to sign, along with my check and everything was taken care of.
Not sure if you can do a UTMA Roth IRA. A Roth IRA would be best for you at your age.
If you're looking for low fees, go with a mutual fund, as there are lots which have no fees. However, if you intend to sell within 5 years, I would go through a brokerage.
Who's the mother f---er who gave me a thumbs down? |
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selig t
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you're under 18 and therefore required to open a custodial account under your parents names. when you're 18, you can switch it to your own account. |
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JoeJohn
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I would wait til you are 18. It's not what you want to hear, but seriously it's less than a year. You can ALWAYS make money in the stock market. Even if the stocks are going down.
BUT, if you must, a ROTH IRA is a great way. You can be 1 day old and open a ROTH IRA. And, the tax advantages are great for ROTH IRA's. BUT, you must have taxable income to contribute to a ROTH IRA, so make sure you have SOME kind of earned income, or your ROTH IRA may no longer qualify for it's ROTH IRA status. |
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