I'm really wanting to start investing/saving some money, but im not sure where to begin to learn about such things...Is there a good internet source that has good information about investing etc.
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Ask Eric Lukas. He can give you some good ideas. -
Be prepared to lose money.
You need to spend money to make money.
Don't think investing $200 will yield $20,000 in a year.
Take risksBelow the radar...Comment
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you have to have a minimum of 500 to 1000 to open an account if you want to trade stocks. Even then its still risky, so I would just join a mutual fund, look for one with a good return annual return rate, such as 9%. This means that every year you earn $90 which you can put back into the original amt. True, this might seem slow but its the easiest way to get rich. Another option would be to put it in a CD, but that only usually yeilds 2-3% returns.
Bottom line, it takes a little bit of research to find a good place to invest under the condition that the higher the returns, the more risk your taking.
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LovelyWendieLast edited by ///M42 sport; 04-30-2011, 03:15 PM.Renting my rear wheel bearing tool kit. SIR
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Last edited by ///M42 sport; 04-30-2011, 03:16 PM.Renting my rear wheel bearing tool kit. SIR
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I trade in and out of qqq, a Nasdaq 100 shares index stock traded on the AMEX exchange. However, it is better to be difersified. On the whole the market goes up, but parts go up and down regularly. If you are diversified, some in many different types of stocks, some in bonds, some in CD's (cash) then you will see steady increases commensurate with the market.
I chose one stock to trade, but it is really a basket of 100 stocks, so I won't get huge rides, but it does go up or down 30% within a year at least the past several years. Individual company stocks can cost you your whole savings, if they have crooked leaders, and there are a lot out there.
The problem with going in and out, it's gambling. And history shows that the days when the market takes a huge increase, the increases are much higher than the days when it takes a huge setback. So, I am afraid of having my money out during a rise more than I am afraid of being invested during a crash. Spending less than you earn, saving consistently, making investments and not shifting them often except to balance portfolio, that's the key to long term success.Comment
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well, my reasoning for investing is this. My parents will most likely get me some sort of graduation present when get out of High School.. I did think of blowing it all on my car but now realize that isn't the best thing to do...As this IS a "gift" i can go into something fairly high-risk without it hurting me too bad. It doesn't seem like a bad idea. With the money i might save from CVS and the graduation gift, i may invest upwards of 2-3k.Comment
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Stick it into a retirement account. If you deposit the max per year, come time to retire you have a very good chunk. Do the math with compounding interest from age 18 - 60 and from age 25-60... big differenceBelow the radar...Comment
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Be careful, the market is pricy right now. It's real volatile and could dive or advance hard, but a dive is a bit more likely at this point in my opinion.Comment
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try gambling
No Limit Texas hold'em is where it's at. Watch ESPN2 right now, on Sun Nov 16. The World Series of Poker will teach you a lot. My friend won $800 in a couple months playing $10 buy ins. This is just at home.
If you get good, you can make a ton of money! Or lose a lot.Comment
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..are you serious? I'd rather spend disposable on an asset I can re-sell or appreciate rather than try to go multiply it with the risk of losing it all.Originally posted by rwh11385
I don't condone gambling as it can get some people addicted and land them in serious trouble...it's not for all, very few people understand that its a business where the casinos etc have a HUGE turn-around on their money...
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yeah. for seriously. there are a lot of professional poker players. for most its not really gambling, it's more than that.Originally posted by e9nine
hold'em poker, you don't play the casino, you play other people.
it's more of a risk assessment, i have these cards, they possible winning hands are these....so i bet this much i can wish the hand.....etc. etcComment
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..even so they have a lot of money to lose...they know its cyclical where you lose and whin but have to stay within a certain margin...some if not most of them are very shady at their games :twisted:
Some people live off stuff like this...Comment
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i'm not saying its for everyone, nor should it be. He was simply asking for ways to invest. Instead of stocks, mutual funds, etc., he can invest in himself and his own abilities.Originally posted by e9nine
Hold'em poker is still on ESPN2. Every year at binions casino, there is a $10,000 buy in, 2 million to the winner tournament. That's a risk. And it takes both skill and luck, but mostly skill to win.
I'd say look into Hold'em and see if it's for you, or even read up on it. Go to http://www.pokerroom.com, the best free place for poker i know of. It's play money and you can see how you can do.
More than just playing and winning money from other tourists, casinos will actually play people to sit at tables and provide games for others. Games of hold'em, the dealer is not a player, so a table must have a resident player. The resident player will be played by the hour to sit there, but he plays with his own money.
I think most pro's start as a hobby on the weekends, and grow better and better, so they develop into champions. Good players will have budgets on how much they will risk a month, and not lose all their bank acounts.
IFinally, the majority of the players at binions only gamble on poker, not horses, sports, or craps. I do not support gambling besides poker. I mainly play poker.
That's about it. It's just an idea. I respect e9nine and his logical/conservative look at gambling. He definately holds valid points. I'm just informing the original poster that poker could be a worhwhile investment if he was interested.Comment
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...thanks for acknowledging my point :D ...I completely understand where you are coming from with the "legit" poker...sorry for jacking the thread E30godz :twisted:Comment
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