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To anyone who knows about investing at all.?
I'm 16 and I want to invest some money (200+). I don't know ANYTHING about investing, stocks, bonds, brokers, IRA's etc.
The internet sites are very unhelpful.
Please explain what the heck the above terms are, and any suggestions on how much I should invest and in what and just plain old anything that help a beginner investor. I seriously don't know anything... Any resources would be appreciated too. ^.^
2 Answers
- InspectorBudgetLv 71 decade agoFavorite Answer
I am surprised that you did not find useful information on the internet, perhaps you have visited the wrong sites.
For beginning investors, I suggest you go to your local library, and borrow the book:
Investing for Dummies
and read it through thoroughly. that should give you a good foundation to start acquiring more specialized knowledge.
Do not try to do too much at one go, or in a short period - it won't work that way. you need to study the subject carefully and understand it before going on to the next topic.
You can also do simulated trading with virtual money on the internet.
- nyadLv 61 decade ago
Good luck with your project. I don't invest but I know people who do. It seems to be an ongoing concern for them. especially the last couple of years. I believe that most of them lost some of their initial investment capital since 2008.
These are the facts that I know about investing:
No matter how the market or your choices fluctuate, even if you know of people that do well investing, always remember that investing is a form of gambling.
No matter how the market fluctuates, no matter who you choose to invest with, brokers and investment companies make money; they make money when you buy and they make money when you sell. They make their money when you keep your money moving, not sitting in quietly in a relatively safe spot.
I hope you get some good pro answers for investing but they might forget to mention these basic elements. And believe it or not, I'm a fan of 'Mad Money' and Suze Orman. I believe that knowledge is power.