Lux Investing
Can someone teach me about investing?
I don't know anything about investing. I'd like to invest money. I have a small amount right now. Can someone teach me the basics, before I spend the money on shoes? I've always been horrible with math, but I wanna do something good for a change with my money.
Public Comments
- Your very first investment, when you have a job and are paying taxes, is to put as much into an IRA each year as will save you money on your taxes - that should be in an IRA CD with your bank at around 5% interest for from 3 months to 5 years. Repeat that every year but in different months so they mature at diffenernt times. Next, you should look into buying your own home or some land somewhere that can be used later as the down payment on your first home. Next would be monthly payroll deductions into Dividend Reinvestment plans with some good dividend paying Blue or soon to be Blue Chip companies.
- Try putting a little away each week into a separate bank account. While it's building up, watch particular stocks in areas you understand. Or look into mutual funds, which are managed and generally less risky. I would talk to your local bank and ask them what they recommend. They can tell you about IRA's and Roth IRA's, which are a good investment also. But while you're learning how to invest, keep saving a little at a time and you'll be ready to invest when a good opportunity arises. Good luck.
- Are you looking for a Long term investment or a short term (1 year)... I like to look into NEW IPOs but they are risky but- For instance Cinemark opened and IPO and purchased some when they firs opened- im making roughly $2.23 per, I know its not big BUT uts a start. A safe way to go is with a Bond or a Low Risk M/Fund... Hope that helps a little.
- YES!! I would definitely do my homework, but your best bet in any market is real estate. Your ROI is always going to be greater than stocks ( and I can relate to the shoes!!) check out the website www.reinvestorsolutions.com/swiderco and have them e-mail you some basic info so you can get an idea of what you want.
- Sure, I'll do what I can if you're willing to learn. I won't push shady Swiss funds either. Take a minute and poke around my site (listed below) and see if you think I can help - if so, the email is listed at the bottom of most pages. Either way, best of luck!
