Lux Investing
How can I invest my money?
I am 14 years old.I wanna invest my money.Can someone tell me how?
Public Comments
- If you're asking that kind of question, I would recommend you start very simply with an interest bearing savings or checking account at a bank or other financial institution -- e.g. Schwab Bank. At 14 you'll need your parents to be the "custodian" or your account.
- i would read the following books first before you start. in the game of investing knowledge is power. 1. the intelligent investor 2. security analysis 3. a financial text book " Investing is most intelligent when it is most business like." Benjamin Graham
- Hello Natasha, There are many ways for you to invest your money...and many people who will want to help you. Your real question is "How can I invest my money SAFELY and achieve a good rate of return with a risk that I am comfortable with?" My suggestion is to deposit your money into a safe, Federally insured CD for one year (so that you can not touch it) and use that year to learn about investing. The first thing you should know is that you will not be able to invest your funds directly, without parental or custodial supervision. This is a good thing. With your money tied up and supervision required, you can take the time necessary to learn about investing. The second thing you should know is that there are people out there whose sole purpose will be to take advantage of you and steal your money. So with a lock on your funds and parental supervision, you should adopt a skeptical attitude as you are ready to begin: There are innumerable ways to invest: Do you want to start a business? Do you want to invest in real estate? Do you want to invest in the markets? (equities, debt instruments, options, foreign exchange...) Do you want to hand off your money to someone and let them do the investing for you or do you want to be 'hands-on'? I suggest that you start with web-sites like http://www.schaeffersresearch.com/ http://finance.yahoo.com/ http://moneycentral.msn.com/ http://www.callwriter.com/ http://www.stockpickr.com/ http://www.investor.reuters.com/ http://www.marketwatch.com/ http://www.winninginvesting.com/ http://www.zacks.com/ http://wsj.com These are web-sites at which you can learn the mechanics of investing and how to analyze market investments. Start reading the newspaper every day, particularly the business section. A periodic review of the Wall Street Journal will be helpful. Get a feel for what is happening in the world and how the course of current events affects the investment sphere. Get a book, any book, on Real Estate Investments from the library. Scan, skim and peruse...not to become an expert real estate investor, but to become familiar with the concepts. Obtain Your Personal Income Tax, available free from the Internal Revenue Service. Learn the tax implications of various investment vehicles and the benefits of capital gains taxation, dividends, depreciation, deductions and write-offs. Become as good as you can with simple mathematics, so that you can evaluate balance sheets, P&L statements (I will leave it to you to find out what P&L means) and pro forma projections. Think of all of this education as preparation for a life-time journey into the financial world. Don't dwell on the money aspect alone, but on the satisfaction of 'winning' through the system. The above is not a complete answer to your question. Others will have different suggestions and approaches. Pick and choose the ones that you are most comfortable with, keeping in mind that losses are also part of the investment equation and that your object will be to control losses and manage profits effectively. Congratulations on your question. go for it!
- start with a CD in your local bank, than read some books about investing.
