Lux Investing
How can I invest my money into stock/mutual funds, etc?
I have heard so much about mutual funds, the stock market, etc. Where do I even BEGIN?! I'm lost, and would appreciate a crash course! Plus, I'm looking to invest minimal funds... Thanks
Public Comments
- ask about investment bank
- Read some very effective tips and articles on stocks and more on investing on this site
- It helps to do homework. I'd recommend dealing with large, respected companies in the field, such as Vanguard and Fidelity. They can send you prospectuses on any of their funds. A good fund to consider is an Equity Income Fund, that would invest in diviudend-paying blue chip stocks.
- To buy mutual funds or stock, you must: 1) Open a brokerage account (i.e. E-Trade, Merrill Lynch, etc.) or if you want to invest in mutual funds only: 1) Contact a mutual fund company (i.e. Vanguard, Fidelity, T-Rowe etc.) for an account application. Since you are investing minimal funds, it is best to go buy a no-load fund (meaning no sales commisions) and go on a periodic investmetn plan. In a PIP, they will allow you to invest in as little as $25 per month into the fund of your choice.
- Contact a large, well-established, well respected Mutual Fund Company, such as Fidelity or Vanguard. They all have toll free numbers, or you can check their websites www.vanguard.com and www.fidelity.com. Ask for an investor package. They will send you the information in the mail ( or you can read it off their website, but you'd need to know where to look ). Another way is to go to your local library, the magazine section, and browse through magazines like Kiplinger, SmartMoney, MONEY, etc. They have pretty good articles for people who are starting out in the MF world.
