Archive for August, 2010
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I think the stock market can be a smart thing to experiment in even without much experience, in contrast to most advice given. My reasoning is that you can "practice" picking stocks for a very small amount of money- even under $100. You can buy just 1 stock option and though you won’t make much, you won’t lose much either and you’ll have experience of watching the market. Sure you can argue that you can study the market without putting your money into it, but I think having something on the line- even if it is only a $20 stock option- keeps your attention and diligence. I am inexperienced with stock trading- it’s been years since I’ve owned stock- but I’m smart, I have a financial mind, and I am a quick study. I think I want to take a few hundred dollars and spread it over a handful of well-picked stocks and watch it for a few months to see what happens. Maybe I’ll make a profit, maybe I won’t. But I’m not risking much. If you disagree, please explain your logic. Thank you!
what do you think about zecco.com?
Oh! I agree… I found that it is an excellent, even fantastic< way to profitably spend your time. As you say, if you get in just a little…it’s great experience ( and always something to " click over to" on the computer.
If you’re into the " practice" part of it , a guy ( who occasionally answers here) has a nice site at:
http://www.top10traders.com/
Great place to see " how you can do" and look at the way about 1200 other traders play the game!
Good luck.
P.S. Correction: up to 1300 traders, now.
If you have $200k and have a $1mil goal, what is the best way of investing it and how long would it take to achieve that goal?
When do you want to achieve this by?
With that kind of capital you’re best buying a well established business. I’m sure lots of your friends have things you can invest in, but if you’re on Yahoo Q’s I imagine your friends are not the place to park a lot of money.
I have a friend doing very well in the storage industry. started by working at one. Get a job at a business you’d like to own. You have the money that you can afford to work for a low wage if that’s what it takes. Then use what you learn over a few years to get out on your own.
I have always been interested in real estate. I’m 25 and I am really considereing making my first move on an investment property. I think a condo would be a nice way to start.
I realize condos don’t offer as much potential for profit as a house but they are for the most part cheaper and seem like a reliable stream of income if you can rent one out. I am interested in Orlando, Miami, and Las Vegas as potential areas.
I would prefer that people experienced in real estate answer this. Preferably someone experienced in condos. Thank You.
Condos are a good stepping stone, yes. If you’re not going to live on the property, however, your loan will be more difficult because lenders prefer owner occupied properties over tenant occupied ones. Why not live in your first acquistion, perhaps a duplex? That way, you’ll get the best of both worlds. And duplexes have great resale value.
Whatever you do, DO THE MATH CAREFULLY. Condos have monthly fees which must be considered, and property taxes and maintenance add up. Make sure there is a positive cash flow or, if you live there, that considering your gaining a residence, it works for that reason.
Good luck!
I am a begginer to investing into stocks, and I am looking to invest probably $500.00 to $1,000.00 for now. I have researched a few of online brokarages and ended up with TRADEKING VS. SCOTTRADE? You can also advice other online brokarages if they are good for just very conservative investing.
If you have a bank account in a Commerical bank, your best bet is to simply open up an account with their brokerage arm.
You can also go direct and buy some stocks directly from the company. Many NYSE companies, which are the more conservative, have direct sales departments. This way you can avoid the brokered fee.
For young investors, Walt Disney is one of the great ones. They send you the stock certificates with all the characters on them. If you buy from Smuckers, they send you a thank you note personally hand written by the CEO.
I have seen a study/chart that showed if you stayed fully invested in the stock market for 10 years or more, you would have had a 100% chance of being profitable.
http://www.tommcmahon.net/images/djiagraph1980s.gif
http://www.stockcharts.com/charts/historical/images/djia1900s.png