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How to start investing as a teen?

5 Answers

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  • 4 years ago

    You should know that ordinary people don't have ability to select stock and get high performance beyond S&P500.

    If you want it, you may have to buy S&P500 index fund like Buffet's family.

  • 4 years ago

    In North America you must be 18 to open a brokerage account in your name, You can have a parent open a custodian account for you using your social security number and when you turn 18 have the assets transferred to an account in your name. However, this should not stop you from investing. I started when I was eleven.

    Before you spend $0.01 on any investment, you must know what you’re doing, why you’re doing it and how to do it and make sure you have the money to do it. Also, you must have an understanding of the rules & regulations that govern what you’re trying to do. Before you invest in any security, the first investment you should make is in yourself, and the best investment you can make is by educating yourself.

    Begin your education by learning why you should invest and the importance of being able to make your own decisions or how the pro’s make theirs. Start your education by reading “Investing for Dummies” by Eric Tyson.

    To continue your education, select some of the following

    Beating the Street by Peter Lynch

    Bulls Make Money, Bears Make Money, Pigs Get Slaughtered, by Gallea

    From Riches to Rags, by I.C. Freeley

    How to Make Money in Stocks” by William O’Neil

    24 Essential Lessons for Investment Success by William O’Neil

    The Intelligent Investor, by Benjamin Graham

    Common Stocks, Uncommon Profits, by Philip A. Fisher

    One Up on Wall Street by Peter Lynch

    Stocks for the Long Run, by Jeremy Siegel

    Uncover the Secret Hiding Places of Stock Market Profits by Joel Greenblatt.

    What Works on Wall Street by James O'Shaunessey

    You Can Be a Stock Market Genius by Joel Greenblatt

    Your Money and Your Brain by Jason Zweig

    Websites that can provide instructions and help with procedures and terminology are Investopedia - http://www.investopedia.com/ http://www.investorshub.com/ and 1 Source for Stocks - http://www.1source4stocks.com/info/stock-analyst-o... or Smart Money

    http://www.smartmoney.com/

    Visit some of the more professional websites like Zacks Research - http://www.zacks.com/ Schaeffer’s http://www.schaeffersresearch.com/ Investors Business Daily - http://www.investors.com/default.htm?fromad=1

    Some of these web sites will have advertisers who are worth looking into also. And remember, if they offer free information, get it.

    And when you think you want to invest/trade, try some paper trading to test your skills without spending you money http://simulatorinvestopedia.com/ http://www.moneyworks4me.com/

    and/or http://www.tradingsimulation.com/

    After you feel comfortable with what you're trying to do, visit the Web sites of some of the more popular brokerage firms. So if you feel comfortable with what you see on line and look at the cost and/or charges. When you are ready to go, just open an account with the firm using their on-line services. Please remember, the cheapest is not always the best. Even though you’re opening an account on line. you can always call the firm's "customer service" area for help

    You at least have made the right decision to start investing, this is the first big step and it won’t be your last. Keep taking those steps forward and along the way never take the advice from people that are not in the market or try to tell you not to invest.

    Good luck on your journey, study hard and you’ll invest well.

    `

    Source(s): from The Street
  • Anonymous
    4 years ago

    You need money to make money. So if you don't already have the money then get a job and save up. You'll probably need at least $1000. And if you're under 18 years of age you'll need parental permission to open up an online trading account.

  • Them
    Lv 7
    4 years ago

    Well - this is sure the time to do it. You have the rest of your life to wait out the LONG deals.

    Go on something like E-trade and Vanguard and read their stuff. You can get accounts on there too - maybe do some phony investing where you don't actually spend money but you can check your luck with it.

    I doubt if you can spend money on investments before you're 18 or so.

    Investing is largely research - and learning how to DO your research isn't all that easy. Lots of stuff to check before you make your move - and then you often find you made the wrong move anyway. So anyway, let your teenage years work for you in learning this process of research and evaluation of stocks.

    Lots of books around about investing - they're all WRONG, but you can pick up a few things from them.

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  • Anonymous
    4 years ago

    Buy as much video games as you can

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