How to go about buying stocks.

[tpaine07]

Instead of throwing my money in the bank, i'd like to invest some of it. Im only 20 but I'd like to start buying some stocks, what is the easiest ways to go about this? My mother used to be really into the stock market before she passed away and I think its kind of a neat concept.


What are some do's/donts?


Is it hard to get into?

 

[Morris]

Stock market is a tricky game. If the company you work for offers a match to your contributions its free money. I'm fortunate I was able to retire when I was 46. This was due to company match and maxing out my investments when I was also 20 yrs. old. Ask around and research solid companys. Look for companies that offer dividends and reinvest all dividends, you won't miss the money.Check into mutual funds and invest wisely. The old saying is 16 dollars a week when you're 16 will make you a millionaire when your 65. Do the research. I don't want to sound like a father figure but it worked for me!

 

[tpaine07]

do I setup an account at an online broker like tdwaterhouse or whatever I hear those commercials for? or what do I do to get this started.

 

[buddy]

ask this same question in the "movers and shakers" forum.

 

[Smitty]

it's great that you're starting so young. i didn't start investing until i was 32, and that is one of the very few regrets that i have in life.

i use scottrade, which charges $7 per trade, but you can find even cheaper than that, if you want.

i would highly recommend you check out fool.com. the newsletters are excellent, but the discussion boards are the real value of that site.

 

[THE HITMAN]

I would do some mutual funds for awhile, while you read, read and read some more. Let a qualified manager do your work for you until you are ready to go on your own. It is a very tricky thing......................you have to be fortunate to play in a good cycle. For every one that made a fortune, there is someone who lost one.
Keep the crash of the early 2000's in mind. It could happen again. GL & be careful.

 

[CANADA MAN]

Get yourself a financial advisor. It's the best thing you can do. Ask your parents or some of their friends who they use. Meet with him/her one time and that's it - done. You just give him what you can each month and they will do all the work. Each month you will recieve a statement telling you where your money is and how it's doing. Yes - it's that simple. Best thing I ever did!

C.M. :canada1

 

[tpaine07]

Get yourself a financial advisor. It's the best thing you can do. Ask your parents or some of their friends who they use. Meet with him/her one time and that's it - done. You just give him what you can each month and they will do all the work. Each month you will recieve a statement telling you where your money is and how it's doing. Yes - it's that simple. Best thing I ever did!

C.M. :canada1

how much is a financial advisor? this sounds like a good idea.

 

[CANADA MAN]

Not much at all. Maybe 2-5%. Whatever it costs is far less than I would lose if I tried to do it on my own. I'm not stupid, but this schmuck went to school for this shit - I didn't. Sit back buddy - have a beer...let a professional handle your money while you enjoy life. If you hire a good one, you will always have wealth - trust me.

C.M. :canada1

 

[DOGS THAT BARK]

Starting out early as you are is the 1st step and makes things much easier. Selkirk down in movers and shakers forum is "very" sharp have been following him since before inceptions of madjacks.

IMO the key is not so much what you invest in but the fact you systematically set aside amount each week/month--(pay yourself 1st)

 

[IntenseOperator]

Bob Brinker has a weekly nationally syndicated radio show

on his website he has a list of books that are recommended reading for the early investor

I leave my investing to a gentleman that handles a gazzilion medical professionals portfolios

but I HAVE FOUND after reading a couple of the books, they apply as much if not more to gambling

http://www.bobbrinker.com/books.asp