Stock Markets Exposed
Teen Investing in stock market???
I am 17 year old and very curious about investing in the stock market. I really don't know to much about it, and I want to know how should I start out? What do I need? How much to invest? Whats a good stock to invest in at my age? And how can I learn more?, Alot of info. would be helpful, thanks.
Public Comments
- You could also get started with demo accounts and practice trading/investing in a live environment. There are loads of good educational resources out there such as http://www.investopedia.com/ and http://www.traderslog.com/ Happy trading!
- You can't open an investment account in your own name for another year until you are 18. I recommend you take that time and learn all you can about the stock market, so when you are ready you can get started right away. www.investopedia.com is a good place to start. Look at all their beginner articles and tutorials to get started. If you don't like research and reading, don't get involved with stocks. Investopedia also offers a "Stock Market Simulator", which is basically a game that simulates the real stock market. It lets you trade stocks with fake money just to see what it is like, and you can test to see if you know what you are doing or not yet. I saved up $8,000 from my first minimum-wage job before I opened my investment account, but you can likely get by on $5,000. I wouldn't start with much less than that. Don't invest in "hot tips" you hear from people, they're normally wrong. Look into the information for yourself to see if it's a stock you want to buy. Buy solid companies, don't get involved with penny stocks. If you want to cut down your risk since you will likely only have enough for 1 or 2 investments (after that the commissions will start taking a big chunk out of your gains,) I would invest into an ETF (index). It is a group of several stocks in a particular industry, so there is less risk. For example you can invest in a "Gold" ETF and own several big gold companies, or a bank ETF to own many well-known banks. The best advice I can offer is to do the reading and learn the basics for yourself though. Read the articles on investopedia.com, watch the business news on TV, ask your dad about the stock market and how it works if he invests.
- Your first option should be to fund fully a retirement account. If you do this, and you have extra cash, then one of the best things you can do is open a DRIP Plan. Go to : low-cost-stock-recommendations .com Click on the "DRIP's" Button on the Navigation Bar These powerful investment plans are seldom talked about because brokers make very little money when they suggest them. Yet, they have proven to be one of the best, if not the best, long-term strategy on Wall Street. They are perfect for small investors, as well as big investors. They are safe and allow you to not care about whether the market is going up or down. They are a must for any serious investor. If you decide you are interested in DRIP Plans, click on the advertisement on the same page "$4 to purchase stocks". This will answer your next question, which is, How do I get started? and what is the least expensive way to get started? I strongly recommend looking into it. They are great plans. Good Luck
