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I am 19 years old and people have told me, that if they wish they could go back, and do something differently, they would invest early. I want to start investing now and be ready for the future, but i have no idea how to start. Where do i start, like who do i go to or talk to about it. I know i can afford to start to.
These two outfits have done really well for me. They have proven over time, to be realatively secure for investors and to make profits for those that are investing.
Another thing that you might try, is going to a bank and seeing what a person there has to say about investing. For a start, at your age, an initial investment in a CD may be the way to go.
If your parents have a tax attorney, he or she may also be able to guide you in the investments that you make.
I am hopeful that others will come along to offer their advice and opinions, also.
i was looking to invest in the stock market in some long term way. I was told since i am younger to be more risky in ways that i invest, like to not do CDs but idk.
The two sites that I referenced do have stocks available in which you can invest. They are investment firms that are excellent ones in which to become involved.
Amass capital!!
Before you begin investing in the stock market, you want to save at least 5 thousand dollars, preferably 10 thousand. This is so you can diversify your risk and not put all of your eggs in one basket. That's not to say you can't invest while you're waiting to amass that capital. If you have less money, consider buying a mutual fund. A mutual fund is a company that owns a collection of stocks. By buying a share in a mutual fund, you own a piece of all of those stocks as well. But as far as individual investing goes, you will need at least 5 thousand dollars.
Without knowing how much money you have to invest, I would suggest mutual funds. You want to invest in ones that are long term capital growth oriented. A mutual fund can give you a diversified portfolio with a minimum investment.
Mutual funds are a safer investment for the long term. In my opinion you have to really know what your doing for stocks to be profitable. You have to really understand the flow of the market and not get nervous (thats how people lose money). With you age and limited knowledge I'd recommend a Vanguard Account you can typically open one with $2,000.
No-load mutual funds allow you to invest without incurring up-front sales charges. No-load mutual funds are just like other funds; you can choose them using the same strategies. In the end, however, you get to walk away without paying for the opportunity to invest. There are, however, other fees and charges to watch for with no-load funds.
I would also recommend doing independent research. "brokerage firms" (like Edward Jones) tend to sell you their product and won't recommend anything outside of their realm. your best interest isn't their best interest.
Don't be a fool and invest in Mutual Funds that carry a Sales Load. There are plenty of great companies (Fidelity Investments, Vanguard, Scottrade) who will help you choose the best Mutual Funds for you without having to pay the unnecessary charges/expenses associated with loaded mutual funds.
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