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Investment
- Thread starter Bluga
- Start date
GoldenGuppy
Diamond Member
Yeah, my econ professor last semester actually gave some advice on Finance during a class session, he's supposedly a millionaire (why he's teacher, I don't know :Q) Anyways... he says that the best thing you can do is start reading up on all the financial magazines and MONEY sections of the newspapers. Obviously you'll be lost as hell the first few times you read them... but as time goes on, you'll learn more and more w/ each and every read... watch anything MARKET related on TV (TechTV doesn' hurt) nor do any of the CNN/FOX news/C-SPAN channels... they're all good. I've done this and I have had a lot of success with his process, maybe I'm just a hell of a lucky guy... who knows, but his plan is definitely worth a try 🙂
And when you do invest... the first time, don't stress over it... my advice would be to throw in some money (something you wouldn't mind losing) into some name, and then let it sit there for a while... (your choice as to how long) might want to wait a year or so, then go back and check it at the end of the year. Just completely forget about it... and if after a year you make money, it's all good, and if you don't... oh well... at least you're not stressing every step of the way
The worst thing to do would be to bite a bullet :|
)(GG)
And when you do invest... the first time, don't stress over it... my advice would be to throw in some money (something you wouldn't mind losing) into some name, and then let it sit there for a while... (your choice as to how long) might want to wait a year or so, then go back and check it at the end of the year. Just completely forget about it... and if after a year you make money, it's all good, and if you don't... oh well... at least you're not stressing every step of the way
The worst thing to do would be to bite a bullet :|
)(GG)
RossMAN
Grand Nagus
What is your age?
Does your employer offer a 401k? If so, do they match? How much?
Do you have an IRA?
Time can both help and hurt you. Hopefully you're a youngin'
While we wait for you to answer these questions, let's take a commercial break and give you lurkers something to play with.
Does your employer offer a 401k? If so, do they match? How much?
Do you have an IRA?
Time can both help and hurt you. Hopefully you're a youngin'
While we wait for you to answer these questions, let's take a commercial break and give you lurkers something to play with.
i'm 20 ,still in college and i hope i can buy a new car (corolla/camry) when i graduate. I still have three more years to go so i was wondering where and how i should start, i've $2000 to start with however i can only save about $100 per month, plus i work in summer and i can save about $2000 every summer. But that's not enough for a car yeh?
<<i'm 20 ,still in college and i hope i can buy a new car (corolla/camry) when i graduate. I still have three more years to go so i was wondering where and how i should start, i've $2000 to start with however i can only save about $100 per month, plus i work in summer and i can save about $2000 every summer. But that's not enough for a car yeh? >>
Your time frame is too short. You shouldn't invest in equities unless you are willing to let the money stay in there for a minimum of 5 years, preferably 10 years. Put it into a nice high rate government security mutal fund or Money market fund at a bank. With as short as your timeframe is you wouldn't be able to tollerate a 50% loss of capital.
Your time frame is too short. You shouldn't invest in equities unless you are willing to let the money stay in there for a minimum of 5 years, preferably 10 years. Put it into a nice high rate government security mutal fund or Money market fund at a bank. With as short as your timeframe is you wouldn't be able to tollerate a 50% loss of capital.
You are very lucky!
Start a Roth IRA...Every dime it makes is completely tax free after age 65!
If you put in $2000 a year for 5 years in a row, at your age you will retire a millionaire no matter what happens between! Only need a 10% return to do it!
If you pass that opportunity up, no amount of education will make up for it....
Start a Roth IRA...Every dime it makes is completely tax free after age 65!
If you put in $2000 a year for 5 years in a row, at your age you will retire a millionaire no matter what happens between! Only need a 10% return to do it!
If you pass that opportunity up, no amount of education will make up for it....
WilsonTung
Senior member
Generally I think "investing" should be a long term thing (IE 10 years or more). Since you are looking only 3 years down the road, you are pretty much at the mercy of the market. You could hit it big with 3K, or loose it all in the process.
Fool.com has some sound advice for beginers and it's free as well.
I know a car is probably a high priority for u, but if you can even save half of the 2K you make each summer and invest in a good mutual fund 10 - 20 years down the road you will most likely have a lot of $$$. By the time u retire u will be a rich person.
Of course I do not in any way shape or form place a warranty on my advice. 😛
I wish you the best of good buys! (ok ok I stole that from the NIghtly Business show on PBS) 😛
Fool.com has some sound advice for beginers and it's free as well.
I know a car is probably a high priority for u, but if you can even save half of the 2K you make each summer and invest in a good mutual fund 10 - 20 years down the road you will most likely have a lot of $$$. By the time u retire u will be a rich person.
Of course I do not in any way shape or form place a warranty on my advice. 😛
I wish you the best of good buys! (ok ok I stole that from the NIghtly Business show on PBS) 😛
Bluga
Just do a search...you'll get more info that you will believe..
At this moment it is limited to $2000 per individual. Married couples can put $2000 each into a Roth. The Republicans are pushing a bill to raise the limit to $5000 each.
A Roth IRA is the best investment oppertunity in history. The only thing remotely close is a 401K match from your employer...although you WILL be taxed at retirement and we probably will live through another Democrat or two so who knows how high those taxes might get?😛
Just do a search...you'll get more info that you will believe..
At this moment it is limited to $2000 per individual. Married couples can put $2000 each into a Roth. The Republicans are pushing a bill to raise the limit to $5000 each.
A Roth IRA is the best investment oppertunity in history. The only thing remotely close is a 401K match from your employer...although you WILL be taxed at retirement and we probably will live through another Democrat or two so who knows how high those taxes might get?😛
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