How Do I start Investing?

Question

I really want to start investing in the stock market though I have no idea what the first step is. Don't worry, I am not going to just start buying random stocks. I am going to learn all about the economy, business, the stock market etc. But I just want to know how to get started. Who do I ask for help? Do I just find a broker in the yellow pages and call them and say, "I've never invested a dime in my life, but I want to start, can you help?" Or will they expect me to already know how to invest? I now I'm asking a lot but I would really appreciate the help, thanks...

and by the way, I'm 17 years old.

Answer 1

You need to be 18 years old to open your own brokerage account.  Therefore, if you really wanted to open account now, it'd have to be a joint account with your parents.  If you do choose to open a brokerage account, I would recommend that you open one at a discount broker like Scottrade, Firstrade, Sogotrade, Tradeking, or Zecco.  I personally use Firstrade and although they are not the cheapest, they offer all the features that I want.

On the other hand, instead of opening an account at a brokerage firm, you can also start investing through a dividend reinvestment program (DRIP) where you would purchase stock directly through the company.  One of the more popular choices is Disney.  You can read more about it here: http://corporate.disney.go.com/investors...