Your Questions About Investing For Beginners

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George asks…

how do you start investing (beginners)?

okey im 19 years old and ive always been interested in business and investing. its like a game i love it! we played an investing game in my econ. class i was given 1000 $ in a month and a half i had a little more then 5000$ it was just fake money tho.

so where do i sign up to start doing it for real!! ive done my research in what stocks to buy i just need to know how to actually do it?? anyone want to help??

financi4 answers:

Before you invest in any security, the first investment you should make is in yourself, and the best investment you can make is by educating yourself.

Start your education by learning why you should invest and the importance of being able to make your own decisions or how the pro’s make theirs.

Here is some reading material that can get you started in the right direction,
The first book you should read is Rich Dad Poor Dad by Robert Kiyosaki
Then try some of these
What Works on Wall Street by James O’Shaunessey
Beating the Street by Peter Lynch
One Up on Wall Street by Peter Lynch
The Warren Buffett Way by Robert Hagstrom
Trading For a Living by Alexander Elder
Mastering the Trade” by John Caster
How to Make Money in Stocks” by William O’Neil
24 Essential Lessons for Investment Success by William O’Neil
The Disciplined Trader by Mark Douglas

Get into the habit of making daily visits to some websites like MSN Money and Yahoo Finance. (http://moneycentral.msn.com/home.asp http://finance.yahoo.com/ )

While at MSN following the strategy lab analysts to get a feel for what the pros are doing and why. This site has some basic information for beginners. If any site offers free information, take it.

Other website that can provide instructions and help with procedures and terminology are
Investopedia – http://www.investopedia.com/ Stock Charts – http://stockcharts.com/
http://www.investorshub.com/ http://www.1source4stocks.com/

Visit some of the more professional websites like Zacks – http://www.zacks.com/
Smart Money – http://www.smartmoney.com/ Schaeffer’s – http://www.schaeffersresearch.com/
Some of these web sites will have advertisers who are worth looking into also. And remember, if they offer free information, get it.

Attend all the free seminars you can, just be careful and don’t get pressured into anything you really don’t want or need. Most schools offer courses in finance and economics, but very few will have courses on the mechanics of the investment markets, if they do try taking the course. You may want to consider on-line courses, the New York Institute of Finance use to have such courses. Try to get some fee information from the stocks exchanges they all have (had) free booklets, SIAC and some of the regulators (FINRA SEC MSRB CBOE) may provide some free literature.

You at least have made the right decision to start investing, this is the first big step and it won’t be your last. Keep taking those steps forward and along the way never take the advice from people that are not in the market or try to tell you not to invest. Good luck on your journey

Thomas asks…

Question about beginners investing and starting a roth IRA?

Im in my late teens, and I have about a grand to my name in a checking account. Lately, Ive been thinking about taking a very very small portion of that, and investing it into stock. Fun, successful stock, like Coke or Disney, nothing risky, so i can make a profit. But how do I go about doing that? Do i need to meet with an investor?

Also, even though im slowing building up my social security with my job, I want to start a Roth IRA and invest a small amount every pay period, for my retirement

Its imporant to me to save money and use it wisely, because I’ve seen family members deal with tough financial times, and it realy sucks!

HOW DO I GET STARTED? And how do i convince my mom that this is a good idea w/o her thinking im crazy?!

financi4 answers:

Talk to a Broker, Mutual Funds may be your best route to investing. At your age a Roth IRA is the smart thing to do.
Although you cannot deduct the investment, it grows tax free, you will not pay taxes when you withdraw the money. If you afford the $2000.00 investment per year you will never regret it.

Daniel asks…

Any good books on investing for beginners?

financi4 answers:

For sure.

The best background knowledge will be found on investopedia.com and thismatter.com.

Peter Lynch’s one up and I don’t remember the other main one are must-reads.

You also should take a look at How to Make Money in Stocks.

Pay close attention however – Lynch has some shortcomings later in his book, but so does the second author (moreso). Best books out there by far though. Good luck.

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