Inspired by SOH's question, do you invest in the stock market, and if so, can you tell me some of your personal experiences with investing? (I'm trying to learn more about investing so forgive me for my ignorance)
If you plan on buying stocks, start with small amounts, never more than you can afford to Lose and always remember there is a FEE when you buy and a Fee when you sell. Mutual funds are better, do dollar cost averaging. Watch annual fee -- < 1%
I plan on hiding in oil while it's still down. Anyone other investors share this opinion?
I don't invest in the commodities market, with gold being the only exception.
I do invest, and I have a diverse portfolio. What are some of your specific questions?
What age can I start investing? Does it matter how much money I have before I start to invest? What are some of the different kinds of investments? How exactly do you invest in a company? I also don't understand how you invest to begin with.
Sorry for the lots of questions. I've tried searching up the answers online but I think I would find a better explanation from you.
You can (technically) start investing at any age, but prior to 18, you would have to have someone else but the stocks for you.
You can have practically no money at all and start investing. There are stocks that range in price from a penny per share
to hundreds (even thousands) per share. I would start out with less expensive shares, such as penny stocks, just to play your hand. However, you can start with a more expensive set if they're notoriously "safe" stocks. I would recommend starting a
diverse portfolio (buying stock in various industries and companies) from the get go.
You can invest in stocks in a variety of ways. If it's a publicly traded company, you can do it online (there are so many websites), or you can use a brokerage
/investment firm, such as Charles Schwab or Edward Jones. The latter likely wouldn't be a good choice unless if you're putting a pretty substantial amount of money into the game.
You can also find private companies that are seeking investors, but
that's a different kind of investment altogether.
The most important things to remember before starting to invest: it's serious! There are a lot of rules and regulations. Also - it's constantly changing. It involves specific dedication if you're
going to manage your own stocks, and you have to do a lot of research (and do it quickly) before you put money into something. Be sure you know how to interpret financial reports, and don't go simply by what other people tell you. Most online
brokers have a lot of tools and tips that help investors, and they cannot be undervalued. As an investor, you want to use every resource to maximize your returns.
If there's anything else you'd like to know - ask. If you need online recommendations
for brokerage firms, I could recommend a couple of them.
It's a complex, potentially dangerous game, but it can be a lot of fun and can really pay off. Chances are, you'll win some and lose some, but I've had great success over the years thanks to
an awesome investment firm.
Start small and be consistent. Small amounts of money will build up. The earlier you start, the earlier you retire.
The best advice I can give you as a beginner is to invest in an Index Fund. There are a lot of hidden fees in many mutual funds and with many stock brokers. An Index Fund will get you your best bang for your buck. The fees are more reasonable as well