Apr
18
Is there a website for young adults that explains in a simple, yet detailed way how to begin investing money?
ByI know almost nothing about investing, but I would like to begin my money somewhere where I could make a profit. I start college, I will not and can not invest much dinero.Yo know of no vocab invest! I really need something that explains the basic things.
7 Comments
April 18th, 2010 at 3:37 pm
not sure
April 18th, 2010 at 3:51 pm
beginnersinvest.about.com and earlyearners.com
Two websites you can check out. Best way to start investing is to just by setting aside a small about each week or month i.e. 25.00/week and letting it set in a savings account until you find a certain investment you would like. Whatever you do make sure that the investment is something you are comfortable with. And whatever anyone tells you nothing will guarantee a return except goverment obligations such as government issued bongs and banks. OTher than that there is risk. However risk isn’t necessarily bad. Just research before you buy.
April 18th, 2010 at 4:38 pm
your best bet is to inest in a no load mutual fund directly. Minimums are usually $500 or so to get started. Let me know if you want specific recommendations.
If your not ready for a mutual fund, start with a money market account, I recommend ING Direct (www.ingdirect.com). They have good interest rates and it is easy to set up.
April 18th, 2010 at 5:36 pm
The first step in investing is to learn the “Rule of 72″.
http://www.ruleof72.net/
Don’t buy anything at this website, but learn the rule and play around with the numbers a bit.
2 cool things to try…
1. Take the interest percentage that you are getting at your bank and calculate how long it will take one dollar to double to $2.
2. Assume that you were given $2000 at birth and you invested it and received an average 10% return every year until you reached 65 years old. Do the same with 5% and 2%
You are wise to start investing early. Start young and you will be a rich woman when you retire.
The other keyword is DIVERSFIY. As they say…Don’t put all your eggs in one basket.
Have fun.
Get rich!
April 18th, 2010 at 5:47 pm
rich dad, poor dad.
richdadpoordad.com
April 18th, 2010 at 6:09 pm
the place to go is Investopedia.com they have lots of info and a simulator that works with the real markets where you can practice prfecting your plans of attack
Dictionary, Articles, Tutorials, Message Boards it has it all
April 18th, 2010 at 6:38 pm
their is not a other way.