Lux Investing
How should I start investing?
I'm looking to start investing around $5k, and add to it as I go. I'm young and have a long time for these to grow (40 years), but I would like to stay reasonably diversified while keeping a high return. Is there a specific strategy I should follow? Pick 20 different stocks? A mutual fund? An index fund?
Public Comments
- I hope this doesn't sound negative, but a great statistic, is the 92% of new traders who open an online account, lose money! 92%. You have an 8% chance of making money. The best answer I can give you is to study,learn, practice with paper money, and then start with very small trades, and make your goal to be, no to lose moeny. However, if you're longer term investing then your best strategy would be to learn how to read annual reports, sit on your bottom and read them, and don't put all your eggs in one basket.
- A ROTH IRA is what you're looking for. It builds long term savings, tax-free earnings, withdrawals can begin at 59 1/2 pending you've owned in 5 taxable years, and you can allow it to continue to grow without tax penalty. You can sign up with companies such as T. Rowe Price or Vanguard and sign up for there target date IRAs, which are managed according your target retirement date. Funds start off aggressive to build long term growth, and then move towards conservative investments as your retirement date nears. Good luck. http://en.wikipedia.org/wiki/Roth_IRA
- 1. ask yourself whether you are ready to take pressure after you start investing. 2. if you are ready, ok. i would suggest; deposit 50% to 70% of your money in bank to get regular interest though it is low; buy some stock step by step with present crisis, reemeber do not be greedy. run out it whenever you get your target profit. good luck. i m from china with 18 years trading experiences . if you need help from china, i would like to share my experiences with you. i have been buying stocks for long time in china.
