I want to invest but i dont make a lot if money right now what do i do?

Question

i make enough money to do a little investing but i have no idea were to start. someone help

Answer 1

Open an account online at Charles Schwab. They have 1000s of mutual funds you can buy for no fee, and usually with a very small initial investment and even smaller additional investments.

And, good luck to you!

Answer 2

The first thing you should do is educate yourself about the facets of the stock market. Once you have done that, you need identify what are your goals for trading. In other words, you need to develop a personal trade plan.

A trade plan defines where you are, where you want to be and how you will get there. The importance of a trade plan is it takes the emotions out of trading. It's a system you develop according to your risk level. You are no longer trying to trade the entire market. Instead you focus on select patterns and indicators to leverage opportunities in the market.

Now, as far as a broker, I would recommend you talk to any and everyone to help you develop your own system. Initially, many traders use stock pick services or brokers. I have no problems with that all, but you need to know what they are trading and why. It's all about making educated decisions.

I joke with my dad now. He's a US Steel retiree. His broker advised him to hold X from over $100 and finally sold @ $27. Now of course US Steel has returned to prominence. What's my point? Nothing wrong with brokers, but you cant count on other people to make decisions for you. You should use them as opinions and let your trade plan tell you if they are aligned with your risk level.

Answer 3

Go to your local coin shop and buy junk silver coins. That is nickels, dimes, and quarters minted before 1964. Mutual funds are garbage the will eat up the little amount of money you have to invest. Gold is also good.