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Where to learn about Investing?


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So I'm 24 years old, still pretty young- but I really want to learn more about investing and try to grow what little money I'm making right now.... and eventually when I've got a better job.... I wanna grow all that money too..

 

But before I can even start to dream about this, I gotta get the knowledge!

 

 

As smart as you guys are, I know someone here's gotta know something... Any suggestions on books? Websites? Good places to look for investing advice?

 

Right now, I know just enough to say that I'm long in F, and.... that's about all I can tell ya :headspin:

 

Thanks :)

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If short-term is your horizon, you may want to learn how to play craps or blackjack.

 

Assuming you're referring to retirement the best advice is start saving NOW, while you're young.

 

Simplest (and usually cheapest) investment is index funds. Even with the market as high as it is and the market's ups and downs in the next 40+ years, you will likely net a comfortable return.

 

I started investing for retirement at 25 (in 1994).

 

I've heard the words "new economy" so many times I've learned to ignore it. I heard it during the dot-com boom in the '90s and during the housing boom in the 2000s. It's true there were a lot of short-term gains made. But only true for those who had a chair when the music stopped. People often mistake "value" for price. People paid too much for houses and etoys.com ignoring the fact that the value was a mirage. (I consider gold to be in the same realm. It's pretty but you can't do much with it, other than electronics)

 

Meantime, I kept plugging away with my 10% (pre-tax) into a 401K. If I had to do it over again, I probably would have diverted more to a ROTH (and less in the 401k), but I'm still nearing a half million in there with at least 20 years to go.

 

As for a (free) source, try listening to some of the talk-radio investment shows (usually on weekends when the syndicated shows aren't on). You could also look on the web at sites like http://www.investopedia.com/university/beginner/ or possibly Morningstar.

 

Do NOT consider these as sources for specific investments, but more as a way to understand investing overall.

 

Use your head. If you're wise enough to think about investing for the future (at 24), then you're likely to be able to ignore the pressures of those motivated to invest your money for you at a commission.

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Like RangerM said - the important thing is to start now even if it's just a small amount each paycheck. You either want an index fund like the S&P 500 or you want a diversified portfolio - you don't want all your eggs in one basket (one stock, one mutual fund, etc. because if it tanks you'll lose everything).

 

At your age a stock that's way down is a buying opportunity, not a selling imperative. Look at it this way - if you're putting $100/month into the S&P 500 index fund and it's at $10/unit, you get 10 units every month. If it drops to 5, you get 20 units per month. And you don't lose a dime on the stock you've already bought if you don't sell it. When the stock rebounds you'll have more than if it had never dropped to 5 in the first place.

 

I use Scarborough to manage my 401K and my wife's and I'm diversified to the max with about 10 different stock funds including international plus bonds/guaranteed interest. I'm 52 and we just moved more into safer investments and less in stock and will continue to ratchet that up over the next 8 years. I hope to retire completely in 8 years.

 

Roth IRAs are definitely the way to go if you qualify.

 

Do NOT take money out unless it's truly an emergency. Even if you take a loan out of your 401K and pay yourself back you've lost any returns on that amount during the loan period.

 

My son is 25 and has been working for starbucks for 8 years. He has stock, stock options and a 401K and has been saving since he was 17. Of course he's extremely stingy like his mother (I'm the spender). He just used his stock and stock options to pay for grad school.

 

You gotta start early and have a little discipline. You'll be grateful when you're 50.

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Form back in the late 80's I started with an IRA. Back then they were giving interest rates in the high single digits or better. Today one percent is the norm. Then through someone who knew a lot more than me about the subject started to get me to move a lot of it into the Vanguard line of funds. All funds have gone through cycles but your outlook is long term.

 

I stay with a balanced fund such as Star and Wellington. they also have a oline of funds geared towards you estimated date of retirement and gear the type and amount of investments towards that goal. The implications on the Federal taxes paid are also a concern.

 

you're smart starting early. Too many think they will get around to it SOME DAY and never do.

 

https://investor.vanguard.com/

 

Vanguard has quite a lot of information geared towards the new investor so take advantage. I like the fact that they keep their expenses low which means more money in your pocket.

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If you bought Ford stocks in 2009 with $10,000, when it's price went up to $17+, sell it. You would have $170,000. Now F went down to $14 range.

 

The safest investment is owning homes. In populated areas with good transportation. Rent it out, let the rents pay for part of the mortgage.

But of course, that need a general plan, and securing down payment.

 

Go to TDAmexxxxxTrade, look at the daily chart of stocks, see them monthy, yearly went up and down. Read each companies' profile and future plans. Eventually you will learn how to invest in stocks. Invest only with spare money that you have and loss them doesn't matter you.

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The safest investment is owning homes. In populated areas with good transportation. Rent it out, let the rents pay for part of the mortgage.

But of course, that need a general plan, and securing down payment.

 

It can be a good investment but it's also more risky. You run the risk of not having renters all the time and the risk of added maintenance expenses that can wipe out an entire year's worth of profit (new hvac e.g.). You also run the risk of falling property values.

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Wow, thanks a bunch guys! I wasn't this much response, awesome :)

 

One of the things I've been looking at was definitely Index and mutual funds.

I've also considered some kind of investment property, specifically executive rentals

 

I wish I could have bought my ford stock when in 2009... but that was a bit too early for me.... I still had a decent ROI before the recent downturn, but I'm not looking to sell so It's all good! I'm patient ;)

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