does anyone know any good ways to start off investments in the stockmartket and that whole thing?
kadu_kunze asked:
im tottaly new to the who stockmarket, investments and fincace thing. but i want to get in on it and i need to know some good ways to research up on it. i want to learn as much as virtually possible before i get strated. so any information sites, books or basically anything will help me as long as it teaches me how to be a succesfull investor. can anyone help me?
im tottaly new to the who stockmarket, investments and fincace thing. but i want to get in on it and i need to know some good ways to research up on it. i want to learn as much as virtually possible before i get strated. so any information sites, books or basically anything will help me as long as it teaches me how to be a succesfull investor. can anyone help me?
The Krieg:
Depending on what media medium you are confortable with, here are my top picks:
Newspaper/Magazine
1. Wall St. Journal
2. Money Magazine
3. Barrons
4. Forbes
Books
1. Either of Jim Cramer’s books
Websites
1. CNN Money
2. Morningstar.com
3. Thestreet.com
TV
1. Bloomberg television
2. CNBC
These are just my suggestions. Try to get as much info as possible before you start putting your money at risk in the market. If you feel overwhelmed, consider just putting the money into a mutual fund.
May 1, 2009, 1:45 pmthrasher415:
The first thing I would do is read “Rich Dad, Poor Dad” by Robert Kyosaki. It gives you an overview of just what it means to be an investor. Secondly you need to list out all of your Income(s) and debts. If you have a credit card with a balance, you should probably pay that off first, especially if it has an interest rate in excess of 8%. You’ll have a hard time earning 19.9% on in investment versus paying off that high interest debt with the same money. From there, go to the bookstore and look for items in the investment section. Look for titles that either answer a question you have or make you have new questions. There are plenty of books for beginners. Maybe something by Suze Orman. Read, learn and question. Learn to life off of less than 90% of your take home pay and create/fund your Roth IRA, 401K etc. Saving early is the key. Time is your friend if you have plenty of it, your enemy if you have little.
May 4, 2009, 12:13 amcrystal:
i would suggest you become familiar with the actual market (such as bond market, stock market, foreign markets, blah blah) you are interested in before you put in your money and carry unwarranted risks…
May 4, 2009, 8:15 amJoe:
First, I would make sure you have at least 3 months salary saved up in the bank or in a money market fund for an emergency fund. (Some people say 6 months.) Financial disasters like getting layed off or sick happen to all of us.
Second, I would pay off all high interest debt. Pay off everything you can except the house mortgage and student loans. Paying off debt is one of the best investments you can make. You will have more money in the future because you won’t have credit card bills to pay.
Third, if you have money left, start investing in stocks, bonds, and money market funds. You want to buy a diversified portfolio of stocks, as individual stocks are too risky. For most folks this means buying mutual funds. I like Vanguard.com, other people like Fidelity, TIAA-CREF, and DFA. Buy no-load, low cost funds. If you are like most people you will invest part of your money conservatively, in money market funds and bond funds, and part aggressively in stock funds. Vanguard.com has an on-line questionnaire which will give you an idea how aggressive you want to be.
Investing in a mutual fund IRA for retirement may give you an income tax break. Talk to your tax adviser. You may also be able to invest in a stock mutual fund via a 401K plan at work.
Believing advice you get on Yahoo answers can be risky, so read these websites for further information. If you find it too confusing, contact a professional financial advisor. They will charge you significant commissions, however.
May 6, 2009, 1:11 pm