I am 22, I have $10,000 in a savings account that is just sitting there, and no other investments. I have no dept whatsoever, a steady job, and I am good at managing my personal finances. I think this is a great time to invest some money, but I am pretty dumb as far as the financial world goes. What websites do you read for info and can you give me some general advice? Thanks.
Interested in investing.
- Thread starter Wallydraigle
- Start date
I was just thinking of investing myself today, with everything down, it might be a good time to buy 'em up...
StageLeft
No Lifer
- Sep 29, 2000
- 70,150
- 5
- 0
I suppose you want to make money and not piss it away right?
Ok, well then don't pick stocks and buy them yourself. Essentially nobody can consistently beat the market over time, so your goal should be to make money in line with the market. The stock market goes up in worth about 10% a year historically (yes its sucked last couple years but it kicked ass before then - from decade to decade its around 10% I think). This is what you can expect to make around.
Pick a decent large mutual fund from a strong company, drop your money there, and check it occasionally. Although it sounds counterintuitive once you've got a basic grasp of this often times the more time you put into it the less your gains will be. You'll start investing in individual stocks (like I said, most people can't beat the market, although many consistently do worse), and you'll keep an eye too closely on the market and start moving around your money too much.
You should speak at least briefly with a financer to go over your options such as 401K. Just please don't do what so many people on AT have done which is pick a tech stock cause you feel so good about it and then watch your money go into the toilet.
Playing the market may be fun, but if it not the best way to make money, and definitely not the safest.
Ok, well then don't pick stocks and buy them yourself. Essentially nobody can consistently beat the market over time, so your goal should be to make money in line with the market. The stock market goes up in worth about 10% a year historically (yes its sucked last couple years but it kicked ass before then - from decade to decade its around 10% I think). This is what you can expect to make around.
Pick a decent large mutual fund from a strong company, drop your money there, and check it occasionally. Although it sounds counterintuitive once you've got a basic grasp of this often times the more time you put into it the less your gains will be. You'll start investing in individual stocks (like I said, most people can't beat the market, although many consistently do worse), and you'll keep an eye too closely on the market and start moving around your money too much.
You should speak at least briefly with a financer to go over your options such as 401K. Just please don't do what so many people on AT have done which is pick a tech stock cause you feel so good about it and then watch your money go into the toilet.
Playing the market may be fun, but if it not the best way to make money, and definitely not the safest.
- Oct 28, 1999
- 62,484
- 8,345
- 126
Hey Skoorb, I keep reading over, and over again to go with index funds over an actively managed mutual fund. From what I've read, only 3 out of 10 actively managed funds will beat an index fund following the S&P 500 over the course of a 2 or 3 years.
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