Lux Investing
How do i start off small and invest my money into stocks?
invest small amounts of money into stock
Public Comments
- Start by opening an account with one of the web based brokers (Schwab, Ameritrade, Etc) and start with a few shares of a blue chip like Procter & Gamble (PG).
- Talk to your Bank manager about mutual funds. Usually only a small initial investment is required. They can arrange for weekly or monthly contributions to be deducted from your bank account. Even small regular contributions will add up quickly. Mutual funds have the advantage of pooling your contributions with millions of other small investors which greatly reduces costs. Also they are managed by investment professionals. Make sure you ask for a prospectus on any fund before you invest.
- Ask Ray Luchia,Doug Fabian,Moeez Ansari...you can get their websites with search by their first/last name...either one of these guys have much knowledge and highly reccomended...
- try sharebuilder.com, set up automatic investment plan to buy exchanged traded indexes. (ETFs)
- I agree with the other poster's comments about mutual funds, with one exception. Don't talk with your bank manager. They are going to sell you funds that charge commissions. That means, they take some of your money up front for themselves, often as much as 5.75%, and then invest the rest. There are thousands of funds you can buy thru Schwab, Fidelity, TD Waterhouse, Vanguard, etc., that charge NO upfront fees. Buying mutual funds is the best way to diversify your holdings very quickly. You probably won't hit any "get rich quick" funds, but you also don't have the downside risk associated with buying the stock of a single company, which could go in the toilet and never come back.
- Don't buy mutual funds... take a risk... big risk... big reward... look for penny stocks... they are the riskiest stocks.
