Anybody got any good advice about investing?

Question

I'm just getting started investing an would appreciate any good advice or help anybody has to give.

Thanx

Answer 1

HERE IS THE BEST ADVICE EVER!

There is a guy named warren Buffet who is the riichest guy in the world.  For the past 40 years, he has averaged 20% per year and he made all his money by investing.  Warren Buffet is a better investor that almost anyone in the world.  So why beat him?  Every quarter he has to report what he bought and at what price.  Buy the same that he buys and you should do better than any other investor out there. http://www.gurufocus.com/StockBuy.php?Gu...

I check that site to see what he did and I buy the same with some of my money.

Answer 2

Make sure you know what you are doing, why you are doing it, and how to do it.

The are four major plans you need before you start investing and/or trading.

1- A written sound trading/investment plan with rules that will not only help you but more importantly protect you, mostly from yourself.

2 - Sufficient trading/investment capital.  Use your own money, there’s no need to go into debt so that you trade/invest.

3 - A written money management program in place.

4 – A full and complete understanding of the rules & regulations of the industry.

Before you invest in any security, the first investment you should make is in yourself, and the best investment you can make is by educating yourself.

Start your education by learning why you should invest and the importance of being able to make your own decisions or how the pro’s make theirs.

Here is some reading material that can get you started in the right direction, The first book you should read is Rich Dad Poor Dad by Robert Kiyosaki

Then try some of these

What Works on Wall Street by James O'Shaunessey

Beating the Street by Peter Lynch

One Up on Wall Street by Peter Lynch

The Warren Buffett Way by Robert Hagstrom

How to Make Money in Stocks” and 24 Essential Lessons for Investment Success both by  William O’Neil

Get into the habit of making daily visits to some websites like MSN Money and Yahoo Finance.  (http://moneycentral.msn.com/home.asp http://finance.yahoo.com/ )

While at MSN following the strategy lab analysts to get a feel for what the pros are doing and why.  This site has some basic information for beginners.

Other website that can provide instructions and help with procedures and terminology are Investopedia - http://www.investopedia.com/  Stock Charts - http://stockcharts.com/

http://www.investorshub.com/  http://www.1source4stocks.com/



Visit some of the more professional websites like Zacks - http://www.zacks.com/ Smart Money - http://www.smartmoney.com/  Schaeffer’s – http://www.schaeffersresearch.com/

Some of these web sites will have advertisers who are worth looking into also.  

Good luck on your journey, study hard and you'll do well investing.

Answer 3

Roth Ira invest in your retirement it will pay you in the end.  Its also a non taxable account.

Answer 4

save money!>.

when u go out shopping leave the bank cards at home and just take enough money (cash) for shopping so that u dont get tempted to buy more and waste money. most people waste half of there money and stuff which they dont ever use!!..

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Answer 5

Choose good fund managers.  In such a volitile market, it is key to be diversified and choose Mutual Funds that are managed by the best managers.  Fidelity New Insights is a LArge Cap U.S. fund that is very good.  Ivy Asset Strategy is a World allocation Fund that is fantastic as well.  If your just starting, start with those two funds and you will have U.S. and Internatioinal companies in your portfolio.  

Im a licensed finanical planner, and am not affiliated with either of the investments that I just recommended.