I want to learn about and start investing, Where do I start?
Posted by admin in Finance Saturday, 3 December 2011 21:11 3 Comments
I want to know where to start a college fund for small child, and also just investing money.
Posted by admin in Finance Saturday, 3 December 2011 21:11 3 Comments
I want to know where to start a college fund for small child, and also just investing money.
Start immediately. Borrow a few books from the public library and you have already saved over a 100. Plenty to choose from. Open a mutual fund account at a company such as Fidelity or Schwab. Purchase only no load funds. This put 100% of your money to work.
A mutual fund is best for beginners since the stocks purchased a picked by a pro and vary enough to soften any losses. Start watching CNBC and listen to the discussions on investing.
I think you are thinking about starting a 529 college savings plan. Wikipedia is a good place to start to learn about it. Here is the link: (http://en.wikipedia.org/wiki/529_plan)
The other part of your question is a lot more complicated to answer. It really depends on your individual situation (your age, risk tolerance, disposable income, etc) and the beliefs of the people giving you the advice.
Without knowing your individual situation, I would like to offer the following ideas to be investigated: (1) Having 6 months of “rainy day” savings, (2) being debt-free, and then (3) start by investing in least risky investment vehicles (certificates of deposits, government bonds) to (4) higher yield but riskier investment vehicles (mutual funds, individual stocks.) Then (5) to hedge against inflation, you may want to own some precious metals as well.
The end goal is to amass a portfolio of different asset classes (cash, CD, real estate, bonds, mutual funds, stocks, and previous metals.)
Ideas 1 to 3 require minimal amount of financial expertise. Ideas 4 to 5 are more involved.
Best of luck to you!
I am a professional investor and mentor. I’d be glad to help you a bit and teach you some great strategies for investing in the stock market. I can provide you with lots of resources and information you can use to learn on your own. I use systems that create income and wealth. I’m not selling any products or anything, just an offer to help. If you are interested, mail me at bfastlane67@gmail.com. Good luck!!!