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I need help with Investing.?
I know nothing about investing in the stock market...so I have a few questions.
1.Can I start with $500.00?
2.Where is the best place to invest my money? I don't want to do anything long term,I want something around 5yr.s if that is possible.Then when I make some money I will do long term investments.
3.Who do I go to for investment and how do I know if I can trust them with my money? I know $500.00 may not be a lot to some,but to me that is 2wk.s of groceries for my family and I have to know that they aren't going to take my money.
4.Do I have to pay for someone to do my investments and how much do I pay?If so,is that payed up front when I give them my money to invest?
5.If someone else does my investments,can I check on my investments online to see how thing are going?If so,how would I do that?How often do I do it?How do I know if I have made money?
Ok,like I said before I know nothing about investing,so I didn't know that 10,000 was the minimum for the stock market.I just thought that the stock market was what you invested in,I didn't know there were other ways.That is why I am asking questions,and I don't know what I want to invest in,because I don't know what there is to invest in.I also didn't know that 5yr.s was long term,I thought long term was 10yr.s or more.
6 Answers
- Anonymous1 decade agoFavorite Answer
I think that $500 will get you started at Scottrade.com. There is no up front fee. You pay only when you buy and sell---$7.00 each. They are on the internet and you can log into your account daily, or by the minute for that matter and check to see how you are doing. They are trustworthy and insured by the government. 5 years is long term in this day and age.
Do you have any idea of what you want to invest in?
- Anonymous1 decade ago
$500 per week, month, year is mutual fund investing money, not stock market money.
Although you can start stock market investing with such small amounts of money, it isn't recommended. $10,000 is a rock bottom minimum for buy and hold. $100,000 is the rock bottom minimum for trading. Starting with less is almost certainly going to devour your money in trading fees and commissions.
If I were you, I would put the $500 in a good money market account (credit union or INGDirect.com) until I had several thousand dollars saved and then I would invest it in diversified, low cost, index stock funds at Vanguard.com.
- 1 decade ago
Sounds like you need an advisor who can give you a presentation on investing and take down a personal profile of yourself. There are thousands of professional advisors who do this for a living and can help you. Ask a friend who is happy with their advisor for a referal and start there. Do it right starting out find a good professional to help you. Investing is not a "do it yourself hobby"!
- Anonymous1 decade ago
Open an account with scottrade, they charge like $7 a trade...just buy $500 worth off Con Ed stock...they pay a good dividend and it goes up every year!
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- 1 decade ago
Hi,
I can suggest you the company which i also invested my 6500 USD in them since may 2009. Their rate and trust is better then others. If you wanna detail info you may contact me via namiq_83@mail.ru. Company website is www.online3fs.com
- Anonymous1 decade ago
these are the sites i used that helped me learn alot about investing
hang in there ones you learn the basics you'll be happy to find out its not that complexed at all
weseed.com
investopedia.com
freestockcharts.com
