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Investing advice.....?
I want to open a custodian
account with $50-$100 on Share
Builder,any advice?What area
is a good place to invest
into?
what are stocks that pay
dividends
thank you,derek
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You may want to start with stocks that pay dividends. Share Builder is a good site as well. Large companies that issue stock usually pay dividends, such as Walmart, Altria, and Bank of America. |
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Superior persons, what s? Where can they become
connected enough to learn
enough about investing to help
their economic situation and
not be ripped off by the "big
boys"?
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Don't believe in 'buy low, sell high' as you can never known when is low & when is high. Otherwise there will be plenty of people who don't have to work but is richer than Bill Gates. The rule of thump is to known about the management of the company. Intergrity, accountability & responsibility. Even during down market, the company with good management will emerge stronger and the stocks you are holding will value a lot more later & you won't lose sleep over it. Read articals of award winning companies. Visit to their place of business to see how the staff work, talk to people to understand their corporate culture.. surely you will not fell your money is in good hands if the management culture are such as Enron!! Forget about the Auditors. You will agree that all the Accountants in Anderson are having a good paying job now but many of the small investors are still feeling the sore thump!! |
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Hi, I'm 18 with some savings the amount is small, $2k or
so, i was looking at the some
articles on 12% yield &
compound interest so I'd like
to start early, any good
advice or articles would be
greatly appreciated. Thanks!
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It's good see that you are planning early. Yes, $2,000 invested per year for six years, at your age, will turn into millions at 12% by retirement age. But, wait. You have six areas of your life to manage financially. They are: 1) Income 2) Debt 3) Emergencies 4) Protection of Assets 5) Long-Term Savings (Retirement) 6) Estate Planning (Death) I usually recommend that my clients handle the above list in the order shown. Obviously, you have some income, and hopefully, you have no debt. If you have $2,000 saved, then you probably don't have an emergency fund. Your emergency fund, ideally, should equal six months' expenses, although many feel that it should equal six months' income. This would be difficult for many people. Most people use a credit card for their emergency fund. In your case, I would recommend that you set a goal of initially having two months' expenses in an emergency fund, before you look at any long-term savings. After that, plan on adding enough money to this fund each year to increase your account by one months' expenses. As your income goes up, your expenses will probably rise also, so this is not a linear savings model. Put the first two months' expense total into a regular savings account that is immediately available (not a CD). Interest won't be much, but liquidity and availability are most important in an emergency. As your excess over two months grows to over $1,000 you should open some sort of no-fee cash management or money market fund account. ING has a good one. Save at least 10% of your income now. If you can, save 15-20%. Live at home for as long as your parents will put up with you. Keep your expenses down. Once you have $2,000 over and above the Emergency Fund recommendations, send me another question, and we will start on your Protection and Long-Term needs. Just FYI, you should have auto and health insurance already. If no one depends on your income for support, you only need enough life insurance to cover your burial expenses ($25,000 should suffice). A VUL is probably not your best investment vehicle at this point, since you are much more likely to live than die over the next few years. Unless you have driving issues, max-out your auto liability coverage, and keep the highest possible deductibles on your collision and comprehensive coverage. I'd recommend $1000/$250. DO get uninsured motorist coverage. If your vehicles are registered in your parents names, change them to your name only. Protect them from liability. Let me know if you need more information on anything discussed here. Work your plan. Live long and prosper! |
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