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Question: What is the best way to start investing?

(Posted by: Chris on 2010-03-09 01:54:53)

I am new to the idea of investing i am a 21 year old US soldier and i would like to start thinking of ways to make money in a long term plan. What are some good strategy's to look into that have worked for you?What websites are good tolls to use to monitor the market? Is th better to go through a broker? if so do you recommend one? I know this is a lot of questions i really appreciate all your help.

Posted by: Wack on 2010-03-09, 02:44:18

If you want to invest your money on stocks use sharebuilder.com they allow you to buy a fraction of a stock.For example you could buy AT &T $25.00 a month. Overtime you'll build up your shares.

Posted by: Daniel on 2010-03-09, 04:10:06

Max-out your Roth IRA and if you have a 401k plan with the military. Tiaa-Cref is a very good mutual fund company that has been around for over 90 years and has low fund fees. You can do a Roth IRA with them and they have many mutual funds to pick. I would worry about the company that is providing the funds to make sure they are a good company. Over the long-term in any fund sector and index with lower fees with out perform an funds with high fees.

Posted by: Peter on 2010-03-09, 06:26:14

Hi Chris, There are a lot of thing you should decide at first: how much money you have to invest, what time do you have for that, what risk you can incur, you want to trade of your own or just commissioning a professional, etc. If you get to the - in my opinion best - decision to trade of your own, you should choose an online brokerage firm and open a demo account to begin trading as soon as you can. Read, learn, as much as you can - to be able to recognize after some years that most of them is bullshit... And start live trading as soon as you can. But be careful. Try to find which security is best for you to trade: stocks, futures, ETFs, forex, options, etc. Actually, which brokerage firm to choose mainly depends on this... And: use a regular help of an advisory service. Since I do this, I become day by day more successful. Just check Nav N Trade. And remember that trading is psychology as well. Goog luck! Peter p.s. and do not forget that free services are bullshit as you cannot get something for nothing - I say this after many many years of experience...

Posted by: myownsummersi on 2010-03-12, 10:58:19

Hey Chris, You should check out this site: MakeMoneyFlippingArt.com It teaches you how to make money buying and selling paintings and sculptures by famous artists that you can find at estate sales, flea markets, swap meets, antique stores, etc. Good luck!