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I have still won nowt.
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Tilly, that has just made me laugh so much, I do that on the first of every month too. Mind you, we have to have something to look forward to ... |
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QuestionsAnswered | How do I start investing for the future? Now? Im 23.? |
I have been trying my hand at investing after reading a few books but I have no 'real' world guidance. So I wanted to know how would I get going to start investing in things like mutual funds and getting with a broker? I have been playing with about $2,000 dollars on the market for about two years. I've made about $1000 total after some short selling and some dividends combined. Any help?
I want to get my money invested now before I miss some gravy train like Google lol. Plz help. |
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muncie birder
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You have plenty of answers suggesting a 401k or a Roth IRA. They are good for retirement savings, especially the Roth; but if you should need access to the funds before then you are better off keeping some of your investments outside of those vehicles. When you talk about the Google gravy train, you are talking a lot of specific risk. There certainly are and will be more gravy trains coming down the main line. The trouble is telling them from the locals and those engineered by the Casey Jones of the world. It is best to avoid a train wreck if you can. Not always possible. I have been in quite a few over the years, but survived all of them with only minor injuries though a few certainly put me out of commission for a while.
Quite frankly a $1000 return in two years on a $2000 investment is pretty darn good. The trick is holding on to it. How much of that did the government latch on to.
$3000 is not a lot of money when it comes to buying stocks. It does not allow for much diversity of investments.
The future Googles of the world are most likely found among the small cap stocks. That is where you are most likely to find the choicest of express gray trains. The only problem is that there are over 5000 small cap stocks to choose from. What happens to many is they will have a good run for one or two years and then derail. Other places you might look are Chinese and Indian stocks. Both countries are growing about 3x faster than the U S and both have a lot of catching up to do infastructure wise. They both rely heavily on rail transportation so the gravy train should keep on track. Should be a lot of opportunies there.
Some investors suggest also Russia, but I don't like their train schedules one bit. Too likely to be switched to a siding for a long period of time or wind up on a dead end siding. |
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Sean G
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Look into a Fidelity IRA. I've had one since I was 19 and they're great! |
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Rachel M
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First things first, get a 401K. |
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Erik G
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The more you do trading, the clearer it will become that you cannot reliably make money unless you are diversified. But the dillema becomes how can I make a lot of money if I am diversified? Right?
Choose an index fund or even a mutual fund that is leveraged. And choose a fund that is a diversified emerging markets fund. Historically, these are the highest returning funds in existience. Over the past 12 months, UUPIX has returned about 120%. But over the long run average it averages 30% per year. This is triple the general stock market. The volatility is high, but nothing comparable to individual stocks. This is a long term investment. The longer your horizon, the higher your expected return should be.
Don't go pretending you can beat the market by outsmarting it buying and shorting individual stocks, unless you have a large diversified portfolio. This is because otherwise your trading costs will be too high to make any money. The sad truth is those whom are not diversified cannot withstand the losses that the diversified can. So as a consequence, the undiversified investor will usually end up essentially folding his position at a loss because he cannot wait years for that single company to make a comeback. |
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Sarah
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Contact a financial advisor/planner. I just went to my parent's financial advisor Monday for the first time (I'm 20.) And I put thousand dollars in a CD. Try doing something like that. |
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timo_10143
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Check if your employer has a 457 plan. If so, it's a great advantage to be able to start tax free. |
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Stormchaser
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For good solid advice on this go to :
Crown.org |
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do it movin'
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if you're working.. start a 401k account
with the 2k you have now.. i'd start a roth ira account |
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white buffalo
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you did preaty good you made 50%,but you should put some in bonds and value stock.you should check with banks about { i bonds }. good hunting |
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k g
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www.thestreet.com
www.stockpickr.com
Watch Mad Money on CNBC and buy "Mad Money Watch TV Get Rich"
Jim Cramer has lots of college student aged followers, including myself. Got in CROX...whoooooooa what a ride.
JSDA, wow triple play. |
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Dan Da Man
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Roth IRA
Roth IRA
Roth IRA |
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derobake
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1) http://www.investopedia.com
2) http://www.invest-for-retirement.com
3) Mutual Funds for Dummies, by Eric Tyson
Those are 3 good sources to help orient a young person in the world of investing.
At this point you will want to start investing towards your retirement. A company-sponsored retirement plan and/or an IRA are your best bets. |
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JERSEY BOY ♠♥♦♣
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Get into a 401k plan ASAP. |
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legareth
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Check out:
www.fool.com
Hidden Gems for those "future Googles".
Pay close attention to the Yahoo Finance pages and those daily headlines, they will give you insight into those companies that are making news.
Market timing is useful, however you have to dedicate so much time and energy to hopefully perform as well as buy and hold investors.
So I would suggest, find a couple no load, no fee, low minimum mutual funds that you can plug your money into and let it grow. |
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Succes
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Mutual Fund: You should know the meaning of mutual funds, before you choose to invest in mutual funds. These funds are a type of security that can be traded on the stock market, allowing shareholders to buy and sell shares in the funds. The revenue generated by purchase of shares is used by mutual fund manager to buy more shares of specific stocks, bonds, and other market securities and money market instruments.
Since the prices of the stocks, bonds, and other securities held by the mutual fund vary, the value of the fund changes. The average value of every share of the mutual fund is fixed daily based on the total value of the underlying securities held by the fund.
This involves the shareholders of a mutual fund directly with their investment as against those who just buy individual securities and observe as the prices fluctuate. |
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Dolar Tha Scholar
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I think you should try ebay because a friend i know put 2,000 worth of material on there and he made 40,000 after that so i think you should try that.simple |
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mrsdudley8905
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You should really look into a Roth IRA account. You can put however much a month you want into it, and by the time you're retirement comes around, will you have all this money waiting for you. Also, for each dollar, you get $.50 back when it's tax season. So that makes for a nice tax return also. My husband and I are 21 and 25 and just opened one a few months ago. Also when you've had it for I believe 6 months, they send you some information on investing money into other areas. Hope this helped! |
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Financial Consultant
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I'm 24, and I make $20,000 a month passively now. Hopefully, I'll be hitting my first million by next year.
If you're interested too, email me personally. |
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