I want to start investing in things like stocks, bonds, CD accounts, mutual funds, property, or whatever. What is the best route for a young man with hardly any money but the government grants and scholarships that I receive from school. Are there any good books or advice that people can give me. if there is, then that would be great!
Related Financial Articles
6 Comments For This Post
Leave a Reply
- How exactly do the democrats think spending 335 million dollars for condoms will stimulate the economy?
- When the economy completely crashes will Bush be brought up on charges?
- Will history remember Republicans for not only ruining economy but standing in way of fixing it?
- Why do Democrats want to kill jobs and cripple the economy with their Cap and Trade bill?
- Do you think a massive deportation of illegal immigrants would impact the US economy ?
- When can we start blaming Comrade Obama for the bad economy, or will it always be George Bushs fault?
- Should we start to panic over the economy and recession?
- As the Bush economy collapses, does it make people more likely to vote for more republicans?
- Obama is elected and stock market has the largest 2 day drop in history. Coincidence?
- Why do conservatives only whine about the economy when a democrat is in office?
- meg: It was the bank failures that was caused by the cr...
- Ingrid: I do not believe that it will have the same effect...
- Clayton J: Industrial and Technical Economics preclude market...
- Follow Me!: Not sure. I know that dry-cleaners in central bu...
- kozzm0: Yesterday the market went up as Obama's poll numbe...
- What Kind of Exposure Should an Investor Have?
- Are Penny Stocks Right Business For Me?
- Corporate News: All About The Business
- High Impact Brochure Printing – A Must For Coffee Shops
- Are Things as Bad as They Seem?
- Wedding Invitation Cards: Elegant Matte Costume Made Wedding Invitation Cards
- Online Store: Star Now
- Carton And Graphical Grade Supplier
- Starting a Roth IRA
- Forex Cyclone – The Next Generation of Forex Robots!
April 12th, 2010 at 6:59 pm
A Roth IRA
April 12th, 2010 at 7:26 pm
There are lots of ways. . . 90% of people will come on here and spout roth IRA.
I guess you can do that to save penny by penny and earn a small amount over time. Very safe bet.
I say check out Mad Money on CNBC and get into the game.
Buy cheaper speculatory stocks and try to get in and get out at the right times. You are already playing with free money right? Jim Cramer has some good books as well.
www. thestreet. com
April 12th, 2010 at 8:20 pm
Savings bonds. Sure, they’ve got the vibe of being the kind of thing you’d get from your granny when you’re 10, but I bought a bunch when I was 20ish, and I’m earning over 6% interest on them because I bought I Bonds and the economy got crappy. The thing I like about them is that you can buy them in small increments, so you can get one whenever you get an extra 25 or 50 bucks instead of having to build up savings before investing. I don’t know about you but if I have money lying around I’m liable to spend it.
April 12th, 2010 at 8:43 pm
The government grants and scholarships are to pay for your school expenses and living expenses, not for you to invest.
If you want to start investing, you’ll have to earn your own money. When you do invest, consider starting with your own Roth IRA, and chose an aggressive mutual fund featuring stocks and international stock – the risk is higher, but so are the returns, and you have plenty of time to recover from any losses.
Also, get down to your local library tonight and start checking out personal finance books – they can be wonderfully empowering and inspiring, and most are written in simple, easy-to-understand terms.
-The Complete Idiot’s Guide to Personal Finance in your 20s and 30s
-The Complete Idiot’s Guide to Managing Your Money
-“Smart Women Finish Rich” or “The Automatic Millionaire”, by David Bach
-any Suzy Orman books
April 12th, 2010 at 9:37 pm
1) Mutual Funds for Dummies, by Eric Tyson
2) http://www. invest-for-retirement. com
3) http://www. investopedia. com
IMO, you would be wise to keep your investments conservative and liquid until after graduation and after you land your first job. There are all kinds of unexpected expenses that will come up in the next coming years. You will want the ability to tap that money whenever you need. This is accomplished through money market accounts, bank CDs, mutual bond funds. Serious, long-term investing with stocks will begin after you are finished with your education. However, this is just my opinion. Do as you wish. Just be educated about your investment choices.
Let me give you the three basic tenets that Benjamin Graham gives in his classic book, “The Intelligent Investor”:
1) You must strive for adequate, not extraordinary, returns
2) You must understand what you invest in
3) You must deliberately protect yourself against serious losses
At any stage of your life, those above three tenets will serve you well.
P. S. You will not be allowed to put scholarship or grant money into an IRA. IRA contributions are from earned income only. This means you have to have a job of some sort to contribute to an IRA. Don’t stick this money in an IRA unless you also want an education in IRS audits.
April 12th, 2010 at 10:09 pm
Start with a roth IRA if you want to start saving for retirement. If you just want to invest some money, mutual funds will give you greater diversity than stocks.