If you have any other suggestions for me that would be great!
P.S. right now i have about 1000 dollars to invest.
Additional Details
1 day ago
Don%26#039;t know if this will help but: I live in Canada and use TD bank. 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. If any site offers free information, take it.
MSN MONEY has an entire section of Mutual Funds and another on ETF. Both of these sections should be of great help to you.
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/
The markets in Canada work the same as those in the US, and besides Canadians can and do invest in the US markets.
You thinking is correct for now, but just study and learn all you can about investing and you%26#039;ll do very well
Good luck on your journey, I hope I was of some help industry experience
Other Answers (6)
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At your youthful age, you would need your parents to do the investing for you since you are not able to enter into a contract until you turn 18. I would suggest starting out relatively slow. Perhaps CDs from your local bank would be a good place to start. I wouldn%26#039;t delve into mutual funds or stocks until you know exactly what you are doing. You can lose money easily there. I would also suggest that if you are serious about getting started in investments, you consult a financial planner who can help you choose the best route for you to go. Again, at your age, your parents would have to make all these transactions for you. Good luck!
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You should invest in what an older person should invest in.
If you go the mutual fund rout, right now the tax free municipal bond funds are doing well. When stocks go down, bonds go up. The neat thing is, the money you invest has already been taxed and the interest you earn is tax free. You can, and probably should, set this up so the interest is re-invested.
You will most likely have to go to a bank or other broker to start your account. After that, you can do it either online or through snail mail.
Ask your broker about no-load funds. -
In current market environment, do not jump into it yet because it is going to get worse before it gets stabilized. If do want to invest, ETF is a good area to go by picking those funds such as RSX (ETF of Russia with very low PE), EWZ (ETF of Brazil with has great natural resource, oil, ...) or FXI (ETF of China which has GDP above 8% for the next 5 years).
Meanwhile, if you do have a vision to invest, you should invest in yourself in education! American school system sucks with extremely high high school dropout rate. When you think about we have 30% of US army are high school dropouts and we have outsourced so many jobs to India and China, education is the only way to save oneself when he/she can not save the whole country! -
Get with someone at least eighteen years old %26amp; invest in your serious future, DesignYorLifeStyle.biz, make yourselves 10k/wk like I am, Check out this press release:
www. prweb. com/releases/2008/06/prweb1008344.htm
take out the space between . %26amp; prweb %26amp; . to com -
Investing in your education is by far the best investment.
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