I am 18 and interested in the stock market and beginning to build up wealth. I have slightly less than 5,000?
Saturday, April 18th, 2009 at
7:25 am
іח a savings account ( I assume аt 4% compounded interest). Wһаt саח аחԁ ѕһουƖԁ I ԁο аt tһіѕ point besides Ɩеt іt sit? If I ԁο invest, һοw much? Iѕ TD Ameritrade.com a ехсеƖƖеחt рƖасе tο ѕtаrt (Tοο Pofessional?)Thanks
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If you only have $ 5000, and just starting out, I would invest in a managed fund.
Managed funds – also known as unit trusts – are vehicles that allow you to pool your money with a number of other investors into a single fund that then is able to invest in assets that might otherwise be out of your reach. Managed funds are what they say – funds managed for you by others – namely, investment professionals such as fund managers. Managed funds can invest in a variety of assets including shares, property and fixed interest or a combination of these. All managed funds have a prospectus which allows you to see where it is investing.
About the stock market in general:
Read books especially ones about Lair Buffett.
Learn about the stock market and read everything. knowledge is power.
Find a excellent stock broker. Use him to help invest.
Never invest more then 10% of your money in one share unless it's a managed fund as that has diversity.
Research history on everything.
Watch the news.
Because of inflation, Commodities are always excellent to invest in: Gold, oil and other commodities as they won't be affected as much (though it still is but you won't lose the 'real value" )when inflation is high,
One trap too. Never believe everything you hear or what other people say. Take it on board, but do your own research. If it sounds too excellent to be right, then it's a scam.
Buy shares only when the market is down.
research the company you will invest your shares in.
and start a monthly savings to add to your investments.
With such a small amount a managed fund will be best.
http://moneymanager.com.au/investing/guides/managed_funds_guide.html