Lux Investing
what is something simple and easy with a decent return for a beginner to investing to invest in? $1000?
i want to start investing some money but start out small ($1000) and am willing to take risks for better and faster returns.
Public Comments
- You are young and I would strongly recommend taking a long-term approach to investing. Your first option should be to fund fully a retirement account. If you have done this, or you wish to wait on the retirement fund, then one of the best things you can do is open a DRIP Plan. They are seldom talked about because brokers make very little money when they suggest them. Yet, they have proven to be one of the best, if not the best, long-term strategy on Wall Street. The best part is you get solid annual returns from well-known, safe Blue Chip companies like: McDonalds, General Electric, Pfizer, Walmart, US Bancorp.......etc........ They are inexpensive to start and maintain, and your dividends are reinvested for free. They are perfect for small investors, as well as big investors. They are safe and allow you to not care about whether the market is going up or down. It would be a good idea to have your parents look at any investment decision you decide to make. They have your best interest at heart.
- Jasper is right, invest in your retirement. Open an IRA and contribute yearly. Depending on the IRA you can defer taxes now or when you are 59.5 and are eligible to use the funds again. If you are hell bent on stocks, buy an index fund that tracks the S&P 500, and hold onto it for several years. Stay away from individual stocks, you don't have enough money to afford any risk.
- 1000 isnt a whole lot, i would recommend a long term position.. too much trading will take a lot out of profits due to commisions,,, find a really good company that you can hold for a year and then reevaluate.... i use a site like www.thewallstreethunter.com for their good information.. they talk about the stock market everyday and give good advice on what sectors to be in for the long term,,, Good luck... long term investing is the style most used by warren buffett , the greatest investor of all time,, they also have his portfolio holdings on their site....
- Try http://www.goldenbullstocks.com
- $1000 is a good start. Have you heard of Prosper? You can lend it out there and earn some interest.
