tkquestion
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My advise to you is to listen to your parents and follow their leads. They have the right idea.
Having a stock is same thing as being the part owner of the company.
Let's say you have a baseball. Your friends wants to buy it for 5 dollars. You say NO. Your next friend wants to buy it for 3 dollars. Do you want to say YES to him? Well, the decision will depend on what would happen next. Would the price keep going down or would it go up to 5 or 6 dollar or even higher? How would you know?
Many people today are scared. So scared that they'll sell at any price. That's basically what happened to the market.
The history shows that the price goes up and down all the time. Unless it become ZERO, the price will keep changing. In 10 years, we will be looking at entirely different market. Your baseball may be worth 10 dollars.
Here's the advise to you. You don't understand the market. You don't know what you have. Your parents do. Listen to them. Follow their lead. Don't sell because everybody else is. |
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mr badeet badeet
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Stick it out you got plenty of time for the stock market to redeem itself. Pulling out contributes to the problem. |
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Lane
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Wait until after the election at least. Once things get settled, you'll get a better idea of how the economy will be going. Then go from there. |
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esoogyanyan
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Stick it out, selling it now would mean you would lose a lot of money. Your parents are right. :) |
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Rick
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Listen, at your age I would advise you to leave your money alone. Advisers are saying in the long term The stock market is not a bad investment. It will turn around and begin to grow again long before you retire. If you pull out now you will lose a lot. |
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SKA=<3
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ok well you shouldnt even touch that money for one you should learn the value of a dollar. also it would be better for you when you actually start living on your own. right now work on your school and get a job when you can.
but as for the market. your young and have a while to wait till your in the real world so i would keep it. the market will drop some more but a lot of people live of investments in the market so soon they will have to invest again. so the market will start going back up also the prices will be very low becouse the dropping prices now so more people will probably invest so it should jump and be higher around 5 years. im also guessing there will be a month or 2 where the market is just gona jump like crazy. im not sayinf im right but its what i see is gona happen. but what you need to watch for right now is to make shure the company doesnt go out of buissness then you loose it all.
but like i said earleyer dont really mess with the money for a few years if you get all that money your gona want to spend it and soon its gona be gone and then your gona have to get a job. just hold of untill a time comes when you really need it or after you turn 25. i think you would be better off at that age |
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so got board
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I agree with almost all of the above. however, you should be diversified. meaning not all of your money should be in stocks. some should be in bonds and some should be in maybe CDs. like another person said you should consult a financial planner to help with this. you could buy bonds that wil mature at certain times so you might want bonds that mature in 3-5 years so you can use the money for college. the money you put in CDs can be used during times of emergency (not that you'll likely have any at your age but you never know). the rest I would let ride in the market (in a diversified portfolio of stocks <---- this is where a financial manager could come in handy also).
one last point. the stock market has shown to be the best way to grow savings over any 20 year period during the history of the U.S. stock market. assuming that you have a diversified portfolio. the reason that I mention that is to prove that it is ok that the market is bad right now because it has always bounced back. |
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chemenke
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Keep it for another 10 years and then ask this question. Or in other words...wait until the stock market reaches highs not lows.
Buy low and sell high. Never sell low and buy high. |
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Casey
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Maybe you should listen to your parents. The market is so unstable right now, anything could happen. If you truly feel its the best time to sell now, than do so. But think it through and take everyones advice into consideration. |
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Paul M
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You're not legally old enough to do ANYTHING with it, even take possession of it. If what you're saying is true, then the small fortune would be held in a trust for you until you are of legal age. An executor would be the only one allowed to make changes, sell, cash in, reinvest, etc. You can tell the executor what you'd like to do, but the ultimate decision is theirs.
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Johns
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chi26..., first, meet with a CFP (Certified Financial Planner) and see what he or she has to say. Good Luck!!! |
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Lauren:]
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i suggest that you stick with it. it will go up as long as its a stock that is important to the econimy...like ebay is going to be good later on so it would go back up. but you should just still stick with it and stick it through. |
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urbo burbo
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nothing. seeing as no one under 18 is able to do anything in the market individualy. my advice is to find a smart, loyal broker and ask him what to do. keep in mind pulling all the money out was the cause for the '29 stock market crash and lead up to the great depression. |
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charlie turtles
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i'd talk to your parents about it |
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Penny
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save 2000 per yer and invest it in slow growth stock/ blue chip stock |
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steve the seed
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sell it all really fast!!!!!!!!!!!
hurry!!!!!!!!!!!!! now!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!... |
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