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How and where to start for investments?
I'm completely new and am tired of being a smart *** at school. I make over $100,000 and am not satified after spending years to compete in a giant rat race. How and where do I start? So that I can start investing? where do I go? what do I need to know? Who do I talk to? Does it cost money to start? Please help me...
12 Answers
- Ron BerueLv 61 decade agoFavorite Answer
I'll do my best to answer your Qs in the same order you asked them:
1] How and where do I start? I'll answer this Q with a Q: How do you eat an elephant?
Answer: One bite at a time.
Believe me, in the beginning you'll be overwhelmed with information. In the beginning, you MUST take it slow and easy. There's more info out here than any one persoin can absorb or comprehend in a very short time.
Being a "newbie" - one who doesn't know anything about the market or hwo it works, you should start with a copy of "Trading for Dummies" or "Stocks for Dummies".
Mark in it. Write in it. Make notes in it.
When you get to a term you don't understand, you can usually find excellent, easy-to-understand definitions of many financial and investment terms by going to this free site, recognized by Y! A as a "Featured Knowledge Partner":
Investopedia also has a free, paper trading platform. You can set up a virtual account and almost trade as though you were trading with your own hard-earned money.
http://finance.yahoo.com/ is also recognized by Y! A as a "Featured Knowledge Partner"
2] So that I can start investing? You don't start investing your real hard-earned money until you master your rules and your trading strategies.
3] Where do I go? I gave you the foundation and the sites.
4] What do I need to know? You don't need fifty different strategies. All you need is to learn 5 or 6 strategies.
Who do I talk to?
5] Does it cost money to start? It ALWAYS costs mioney to start trading with real money.
When you finish reading the books, post another Q or e-mail the person who providres the best answer to this Q.
Thanks for asking your Q! I enjoyed answering it!
VTY,
Ron Berue
Yes, that is my real last name!
Source(s): My wonderful family! My wonderful coaches and mentors! TWO [2] of THE ABSOLUTE BEST, MOST wonderful trading groups in the world, which I am most proud to be a member of! Trading stocks and options more than 2 years. "THE University of Hard Knocks" - EgoLv 61 decade ago
I recommend that you go to your local business school's book store and check out the primers by Barron's. The publish a thin book on every type of investment vehicle. Ask your local banker for a rundown of all their investment services and how they work. Then read about how other companies compete or expand on these. Get an accountant and ask for advice about tax-free investments.
Here's the basics:
Know your cash investment vehicles first. CD, money market, loans, etc. Understand stocks & bonds. Next, consider mutual funds. There's foreign stocks & bonds, as well as currency markets. Options. Think real estate. Then there's REITs & TICs, which are real estate funds. Understand that 401k & IRA have tax advantages. You can invest in a start-up company, or form your own partnership. First issue stocks are called IPOs. Precious metals.
- Anonymous1 decade ago
I'd go to Edward Jones, but if you insist on doing it yourself here is the quickie, start by opening an investment account at Etrade, i'd have at least an ira but probably a general account (non-ira) as well:
1. Research your stocks at finance.yahoo.com
2. Stick to exchange traded funds and mutual funds
3. Pick one, here's an example, izzyx
4. Click the profile link to see what the fund objective is and how the expenses relate from the fund to the category.
5. Follow the link that says 'view top small value funds' it will take you to a page that has the highest % return over a 1, 3, 5 year period. Find the highest return and check etrade to confirm you can buy it. Reinvest the dividends and capital gains and be patient.
- Anonymous1 decade ago
I had the same problem as you have.
I had a good amount of money, but didn't knew where to invest it.
So I looked around for something that gave me a great return towards a low risk.
And the only thing I could find was a mannaged account.
Here you can follow up my results of every day:
http://my-robottrader.blogspot.com/
I'm verry excited because I already have 40% ROI in one month and a half.
My moneymannager is giving me great support, and answer all of my questions almost immediatly.
Annyway feel free to contact me (adress on my blog) and I'll bring you in direct contact with my money mannager.
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- Anonymous6 years ago
Binary options let users trade in currency pairs and stocks for various predetermined time-periods, minimal of which is 30 seconds. Executing trades is straightforward. The system uses user-friendly interfaces, which even an 8 years old kid, can operate without having to read any instructions. But winning trades is Not easy.
Binary trading is advertised as the only genuine system that lets users earn preposterous amounts of money in ridiculously short period of time. Advertisers try to implicate as if you can make $350 every 60 seconds; if it was true then binary trading would truly be an astonishing business.
However, does it make any sense? Can every trader make tons of money in binary trading? Who is actually paying all the money or the profit to traders?
The first challenge is finding a trustworthy binary broker; secondly, you need to find a binary trading strategy, which you can use to make profits consistently. Without an effective trading strategy, there is no way you can make money in this business.
Learning a profitable trading strategy is possible, You should watch this presentation video https://tr.im/03f02
It's probably the best way to learn how to win with binary option
- 1 decade ago
Your first option should be to fund fully a retirement account. If you do this, and you have extra cash, then one of the best things you can do is open a DRIP Plan.
Go to : low-cost-stock-recommendations
.com
They have a DRIP Section and it is free.
These powerful investment plans are seldom talked about because brokers make very little money when they suggest them. Yet, they have proven to be one of the best, if not the best, long-term strategy on Wall Street.
They are perfect for small investors, as well as big investors. They are safe and allow you to not care about whether the market is going up or down. They are a must for any serious investor.
I strongly recommend looking into it. They are great plans.
Good Luck
- 7 years ago
Hello,
Many congratulations for your decision to get out of the Rat race.
The first step towards financial independence is to acquire practical knowledge from a reliable and unbiased source.
Please visit http://paulmerriman.com/, and read his books on investing, and also read my blog post http://financialplanningindubai.com/2013/08/15/how...
Trust this helps...
Damodhar Mata
- 1 decade ago
This is a good beginner's guide: http://futurewealthplan.com/advisor/
Where: links provided above
What to know: somply general business knowledge
Who: read online, read books, don't spend on advisors
Cost: less than 1% of your investment
- Anonymous1 decade ago
Dear Friend
This is S2 Stock Predicta (s2sp), Karnataka. Considering the volatality and the day traders confused state of mind, We have launched a website www.s2sp.co.in , in which we provide predicted best selling and best buying price for all stocks listed in BSE and NSE and list of companies suitable for day trading with potential earning everyday after 8 PM for next days market. The forecasted prises are with in the limits of Actual High and low upto 70-75% accuracy. We have launched this service in karnataka on 14th Dec 2007 and provided service to customers via phone and we found the response was good and the necessity of this service was understood. Responding to this demand we have launched the web site to serve more people. Customers can access for free samples everyday and can subscribe for full acess.
Regards
S2 Stock Predicta
www.s2sp.co.in
- Steve RLv 61 decade ago
Look at your company's 401K. They usually match at least 50% of what you put into it up to a percentage (usually 6-8%). Fund your IRA. You can learn about these things for free on Yahoo Finance website under Personal finance tab.
Source(s): http://finance.yahoo.com/