Common Sense
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"I'd like to try it"..... sounds like "let's put some money on a horse"..... investing is not gambling.
Before you put one cent into "the market" take a year to learn it. Start with books like "Investing for Dummies". Read one or two more & you'll be ready to invest.
Be very careful of the advise you get on Yahoo Answers. You don't know the qualifications or motives of those making suggestions.
I can tell you that Scottrade and ETrade are great companies to use as a broker.... but never for a "newbe"! |
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stever002
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Buying stock is easy. Making money in stock takes some work. If you must buy stock you can open an account with Etrade, Scottrade, or any of a number of online stock trading companies.
If you are not experienced, you should find a financial advisor who can advise you what you really need to do. If your goal is to make some investments, then there are other things to do before you dive into the stock market. |
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The Red One
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Before you take the plunge and start investing, you should educate yourself first. 'One up on Wall St.' by Peter Lynch is a good read and should set you in the right direction. In the mean time, start by just saving your money. |
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Chad
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Investing in "individual" stocks takes a lot of knowledge and practice; so I would not suggest doing this until you understand completely how the stock markets work.
Vanguard.com is ideal for long term investors who want to learn about mutual funds, index funds, and exchange-traded-funds (ETFs). Trading funds is less risky than trying to trade "individual" stocks.
Unless you plan on spending everyday of your life looking at stock charts trying to determine the best time to get in and out of "individual" stocks, I would look into some sort of fund.
Also be very careful about asking for stock tips online. Most are probably worthless or contain unethical motives. Do not fall for any Pump-and-Dump scams.
As far as books go, I actually started out with the Investing for Dummies books, and they definitely pushed me in the right direction. To many other books have their own agendas in my opinion.
The websites below all contain plenty of FREE information to get you started in the right direction. |
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Scott B
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You do not necessarily need alot of money, but the more you
learn about investing, the better off you'll be.
You should ask yourself these questions first (this is what any decent financial advisor would ask you).
1. How much am I willing to put aside each month?
(remember, this is a long term decision - years where you will not be touching this money)
2. What return percentage am I looking for and how much risk am I willing to tolerate?
If you know of a good company you can do some research on it on the Internet. Compare it to other companies. Yahoo Finance is a good site. There are many others.
Sharebuilder.com allows you to buy a stock at a very low cost. There are some drawbacks for that cost. They buy stocks on their schedule, not yours, but if you're just getting started and want to invest for the long term this is a great way to go. |
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J-Shizy
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You need a broker. There are online brokers like E*Trade and Scott Trade. Also, there are more traditional brokers at brick and mortar places. Depending on where you go there could be minimum amounts to create a brokerage account.
I've seen a site called oneshare.com. You could even gift yourself a share of stock. Although, you would be overpaying for the actual share.
In all honesty, I believe that investing involves a lot of speculation. It appears skill is neccessary to interpret financial statements in order to determine if there's anything unsavory going on at a company. There's only a hand full of people like Warren Buffet that actually know what they're doing. The best advice I know is to understand the business you invest in. |
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nestor
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If you just want to own stock without working at it, a mutual fund would work. It's a stock fund made up of several stocks and someone manages it, you just make a monthly payment of $25 up to $?? and they invest it.
If you want to trade stock yourself, you would need to educate yourself. Books, online info, virtual trading, etc... |
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gopher
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go to ameritrade and set up account...then look up www.otcbb.com this is where you can look at penny stocks anything below 5.00 a share ....also you can go to www pinksheets .com I turned 100.00 investment into 1000.00 in six months that was in 1997 since then my returns are averaging 20% to 200% a year i am up to 10000.00 already as of august 17,07 with this money i havent took any money out of this account...i had to report all profits on my taxes when i sold shares and bought something else... |
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Rick B
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WEll, if you have hardly any money, and no knowledge of stocks, then you don't need to be buying them.
If your employer offers a 401(k) then sign up and start investing in quality mutual funds with proven track records.
You will rarely do well by trying to select specific stocks in which to invest. Mutual funds typically perform well with much less risk. |
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Frank Castle
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Open a brokerage account at Zecco with at least $2,000.00 USD. |
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