Lux Investing
I want to start Investing Money into the Stock Market, Where should I invest?
What Broker should I use if I am starting off investing no more that $1000? I dont want to start off with a large amount, i want to work my way up. Which company is best for a beginner Investor? What company actually has clients that start off investing only $1000-$2000 to start off with? Any advice would be very appreciated Thanks
Public Comments
- most mutual fund companies have funds with low initial required investments. try vanguard or t. rowe price. i use morningstar.com to research
- First off, I would read up a bit on the basics of money management and investment. I like MotleyFool.com for that, but there are many many web sites that can get you started. They will give you much more comprehensive and complete answer than anyone could give you here. I've included a bunch of short answers, also, in case you just can't stand to read up on this stuff. I would start with no-load mutual funds, not stocks. No load because you don't pay an exchange fee. Mutual funds because they are less volatile (typically) than individual stocks. If you were looking to invest for retirement purposes, I would start by investing in any employer-sponsored 401k accounts that are available to me. Often, employers contribute matching funds into those accounts, making them a great investment. I would open an account with a large brokerage house - Fidelity, T. Rowe Price, something like that. Remember, everyone who ends up with a large investment portfolio started out with a small nest egg.
- I like Schwab. I don't think there's a minimum to open a brokerage account (If there is, I'm sure it's less than $1000). You can do all of your trading online using their website. https://www.schwab.com/
- With that small of an amount I wouldn't use a broker. Put it in E trade or Ameritrade. Stick to COmmisions of less then $15. Brokers will charge you 50 or more for just about any trade. It makes it harder to gain money when you give 5% just for trading with them.
- Deere & Co symbol DE
- Scottrade.com is a great online broker. If you want to learn about investing, you might want to create a "practice" portfolio at http://www.top10traders.com - it's free. Each month the site ranks the best performing investors.
