Stock Markets Exposed - can I make a lot of money by investing $500.00 at 47 years old?

can I make a lot of money by investing $500.00 at 47 years old?

Public Comments

$500 isn't alot of money. Making investing $500/month it might be a sizeable retirement when you're 85.
Yes. (If you think $500,000.00 is a lot of money) $500.00 invested in Wal-Mart (NYSE:WMT) back in 1972 is now worth over $500,000.00 and it's been only 35 years. If you don't smoke and you are not overweight then it is likely you will live for another 38 years. Keep in mind $500,000.00 in today's money will be just enough to buy $100,000.00 in things in 35 years. To keep your money's worth for 35 years then you need to invest at least 10% of your money every year (In this case $50.00 in the first year) Today 10% inflation per year is too high but perhaps in the future the inflation will be higher. 10% is just a good number to protect you against inflation. If the inflation is lower then you will have more money in the future. If you want to invest in Wal-Mart then all you have to do is open a brokerage account at TradeKing and buy at least one share of Wal-Mart every year.
You can't. If it were that easy, there would be multi millionaires overnight with the news. I would say the best thing you can do at age 47 is to get a second job. Take all the money you make at the second job and put it in a Roth IRA first and then start sending each paycheck to Vanguard Aggressive Growth fund or a Tiaa Cref fund. I hope you have other retirement money.
Your best chance actually might be to buy a lottery ticket, even though the odds are about 50,000,000 or more against you. Even if you live to be 97, somewhat unlikely, and get an annual return of 15%, also unlikely, that still only gives you $541,828. But by then the way our government is being run, that might be the amount required to buy a loaf of bread.
You know I started with 200 in january I was upto 700 right now I am between 450 and 500 It is fluctuating but in a month I should see another 50 on that Plus Ill get a 3 dollar a month divedend. So it is possible to make money if you play your cards right and you should read some books.
Sure... but you have to be very diciplined about it. You simply must view your investing $ of 500 per month as another BILL that you have to pay. Get a discount brokerage account and put the money into conservative investments that pay dividends... Conoco Phillips would be a good start. You could net about $200,000 in 20 years if you follow this type strategy.
probably in penny stocks