I'm 23. Would it be a good idea to invest in the stock market?

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I'm 23. Would it be a good idea to invest in the stock market?

Since stock prices are going so low, and I'm SURE they'll go up again before I retire, would it be a good idea to take a little money (maybe $500) and throw it into a mutual fund or something?

merlyn84

Before you go investing in the stock market, you should make sure that all of your personal finances are in order. This means if you have any credit card debt, you should pay that off. Any return that you will make in the stock market will most likely not be more than what you are paying on your cards. The market right now is very volatile but in the long run will make a recovery. Most mutual funds have minimums and a great majority of them had horrible returns this year. If you do decide to put your money in a mutual fund, try and find one that is doing better than a benchmark index, such as the S&P 500. Just remember that even though prices are historically low now, they could go lower. Do your homework on the funds that are out there that way you can make an informed choice. Good Luck

Annie M

How much money do you have to your name? Don't invest in the stock market until your are educated about it. Now is not a good time to invest in a mutual fund which invests in many stocks. Wait until it is clear that the bottom is over and a true recovery has begun.

Carlos D

Yes. Invest in company's that you are going to stay here for a while like Microsoft or BestBuy. I would especially go with BestBuy. New products and Apple's new line of ipods will put their stock price up plus the holiday is coming up. Or to be safer put that money in a CD. They are insured and give decent interest rates.

STL Biker

I am in my 30's now and stock prices right now are the same as when I was in high school. It wouldn't hurt to invest your money now I suppose.

fourstarcashiernathan

In my opinion, I would say wait until this little stock crisis is over...cuz this week I lost 60 bucks in my Walmart stock lol.

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