Im 15 how can i invest and what can i invest

Question

Hi , im interested in investing between $50 - $70 per week in shares etc however i would like to know how can i go about this and what should i invest in ?. I originally considered mutual funds however i am not sure

Answer 1

I would recommend that you save up at least $100 before starting to invest or else the commissions are going to eat away at your profits.  If you are looking for the possibility of very high returns, I would suggest that you invest in stocks.  However, if you want to play it safe, mutual funds and ETFs would be less risky since they are more diversified.  I would recommend that you go with mutual funds because they are professionally managed so you don't have to worry about what stocks or bonds you should buy.

If you are only 15 years old, you will not be able open your own brokerage account.  However, you can open a custodial account and have one of your parents cosign it.  I currently use Firstrade ( http://www.firstrade.com/ ).  They are cheaper than big name brokers such as Etrade, Ameritrade, Scottrade, and Schwab.  Their website is also very easy to use and great for beginners.  I would definitely recommend that you check them out.

Answer 2

To invest in shares, you have to open Demat account with DP. But this is not the right time to enter into share market.

But anyhow I suggest you to invest in mutual funds thru SIP mode which will give you better results as well as good invvestment scheme also.  

Answer 3

I think you know the formalities. I owuld suggest you to buy shares directly because now you can find lot of shares priced very cheap because the market is in a bearish mood. However make long term investments because you cannot make money in the short run now.

Answer 4

i think, you can try overnight income investment. it more simple, workable, profitable and no risk investment.