citykid09 Posted November 13, 2005 Share Posted November 13, 2005 Info On How To Enter The Stock MarketWhat do I need to know?What is the minimum amount of money needed? Quote Link to comment Share on other sites More sharing options...
Jeebus Posted November 13, 2005 Share Posted November 13, 2005 It all depends. Quote Link to comment Share on other sites More sharing options...
citykid09 Posted November 13, 2005 Author Share Posted November 13, 2005 It all depends.Well I am kind of scared to put money in there so I said that I would try it with $1,000. Someone told me that you have to keep putting money in there every month, but that doesn't make since to me. Quote Link to comment Share on other sites More sharing options...
editor Posted November 13, 2005 Share Posted November 13, 2005 Last time I dealt with a broker was in 1997 when I sold by Citicasters stock (just after it got bought by Jacor, which became Clear Channel).The broker wouldn't talk to me without $1,000 worth of stock to open the account with. I converted it to T-mobile and a few months later sold it all. Anyway, the point I'm trying to make is that how much you start with depends on where you start. I went to some local mom-and-pop brokerage and they wanted $1,000. But that was before the internet was widespread. I bet these days you can get started for a lot less. Start with E-Trade (owned by Target, which is why there are E-Trade offices and ATMs in your neighborhood Target store) and Ameritrade. They're both well-established. Compare rates with the online brokers and see who fits your needs best. Just be sure not to invest any money you don't mind losing.Oh, and that thing about adding money every month is bunk. Quote Link to comment Share on other sites More sharing options...
citykid09 Posted November 15, 2005 Author Share Posted November 15, 2005 So I can go to Target to invest my money at an E-Trade office? I don't know if the Target here in Bryan/College Station has an E-Trade office. I have never seen it, unless I did and wasn't paying attention. Well I will start of with $1,000, can you give me an estiment of how long that will take to dubble? Quote Link to comment Share on other sites More sharing options...
YakuzaIce Posted November 15, 2005 Share Posted November 15, 2005 Well I will start of with $1,000, can you give me an estiment of how long that will take to dubble?Really depends on what you invest in. Also don't forget stocks are not a sure fire profit maker. You could lose it. Quote Link to comment Share on other sites More sharing options...
TJones Posted November 16, 2005 Share Posted November 16, 2005 Here is an easy one to start with, I just got talked into buying some stock today, that I feel is an O.K. risk, first thing to remember, is that the stock market is a RISK ! No sure things, look up this company, it's ticker is UPDA,universal property development & aquisition corp., it is at $.47 a share, it is predicted to hit $1.00+ with in the next few days, it is considered a solid investment for short term gain right now. NO, there is no insider trading involved here, this is merely a suggestion. Quote Link to comment Share on other sites More sharing options...
editor Posted November 16, 2005 Share Posted November 16, 2005 So I can go to Target to invest my money at an E-Trade office? I don't know if the Target here in Bryan/College Station has an E-Trade office. I have never seen it, unless I did and wasn't paying attention. Well I will start of with $1,000, can you give me an estiment of how long that will take to dubble?Some Targets do have E-trade offices in the front by the cash registers.There's no way I'm going to tell you how long it will take to double your money. It would be foolish on both of our parts, and I'm not legally in a position to offer financial advice to anyone. Quote Link to comment Share on other sites More sharing options...
77017 Posted November 17, 2005 Share Posted November 17, 2005 Isnt there a rule to prevent insider trading that says u can't sell ur stock until a year after u bought it? Quote Link to comment Share on other sites More sharing options...
UrbaNerd Posted November 17, 2005 Share Posted November 17, 2005 Well I will start of with $1,000, can you give me an estiment of how long that will take to dubble? It isn't that simple....Nothing is. Quote Link to comment Share on other sites More sharing options...
editor Posted November 17, 2005 Share Posted November 17, 2005 Isnt there a rule to prevent insider trading that says u can't sell ur stock until a year after u bought it?I don't think so. Remember during the internet bubble there were those people who would sit around and buy and sell thousands of stocks each minute hoping to make money? I think they used to call them "day traders." I think they all moved on to the real estate market. Quote Link to comment Share on other sites More sharing options...
Jeebus Posted November 17, 2005 Share Posted November 17, 2005 Citykid: Go down to the bank, and put your money in a savings account."Playing" the stock market is literally gambling. Unless you're a professional, you're going to lose money on the short-term.If you still want to invest your money, and are willing to wait a few years for results, then look into mutual funds. Be prepared to invest and walk away. Quote Link to comment Share on other sites More sharing options...
sevfiv Posted November 17, 2005 Share Posted November 17, 2005 (edited) yeah, i would suggest mutual funds, but plan on sitting on it for a long time. also, if applicable, you might want to consider upping the percentage of pay taken out if you have a 401k or 403b from your employer... Edited November 18, 2005 by sevfiv Quote Link to comment Share on other sites More sharing options...
skwatra Posted November 17, 2005 Share Posted November 17, 2005 day trading rules there are major tax implications to buying/selling often:short term gain (selling in less then 6 months) is directly charged as income (depending on your bracket this can be bad, for middle class it doesn't make much of a difference as far as i've seen)long term gain involves a bunch of formulas to figure out taxesif you buy, then sell, and buy again in less then a month, you look at your gain/loss as if you never sold, and the paper work to file gets really complicated. i'm no expert, this is just some stuff i've talked to my dad about. so verify any of this if you're serious.CDs are another thing you should look into. you'll get more back then a simple savings account (4% rather then 2%), but again, your money is stuck for the long term. Quote Link to comment Share on other sites More sharing options...
Jeebus Posted November 17, 2005 Share Posted November 17, 2005 yeah, i would suggest mutual funds, but plan on sitting on it for a long time. also, if applicabel, you might want to consider upping the percentage of pay taken out if you have a 401k or 403b from your employer...Another option is seeing if your employer offers a "Deferred-Comp" aka Deferred Compensation plan. Its basically a managed collection of stocks & mutual funds that you can invest in to. Your employer would subtract it from you check as they would your 401k.I know most larger companies offer this, but I think citykid is still in college though. Either way, low risk - low yield is the safest bet. Quote Link to comment Share on other sites More sharing options...
ToolMan Posted November 17, 2005 Share Posted November 17, 2005 CityKid, put 25% of your money in some kind of IRA, 401K, or some kind of mutial fund right now - by the time you are 60 you will be well off. And don't give me "I can afford 25% of my salary". You are young enough to start saving now and stick with it before you get trapped into luxurious stuff.Just learn to live without a fancy car, don't go out to eat or drink every night, and live in an afordable place. It really isn't that hard to retire as a millionaire if you have discipline. Read The Next Door Millionaire.No sure things, look up this company, it's ticker is UPDA,universal property development & aquisition corp., it is at $.47 a share, it is predicted to hit $1.00+ with in the next few daysPenny stocks = dangerous!!! Quote Link to comment Share on other sites More sharing options...
uncertaintraveler Posted November 17, 2005 Share Posted November 17, 2005 Well I will start of with $1,000, can you give me an estiment of how long that will take to dubble?I'm surprised no one has mentioned the Rule of 72. Assuming you have a stable investment, and a solid (i.e, one that does not vary over time) rate of return, you divide the interest rate (or rate of return) by 72, and you get the number of years required to double the principal. Thus, if you have a 4% interest rate (or rate of return), it will take 18 years for your principal to double. Quote Link to comment Share on other sites More sharing options...
uncertaintraveler Posted November 17, 2005 Share Posted November 17, 2005 (edited) Penny stocks = dangerous!!! Sometimes, but not always. Look up PETDE (that's the stock symbol)...for years it traded in the sub $1 range, then in the $1 to $4 range, and then, boom....it exploded to over $50 a share, although it has come down from there recently. But it has certainly had a good ride. That being said, it takes serious discipline and a solid understanding of the company's business to sort which penny stocks are good and which are worthless. Or, you could just get lucky. Edited November 17, 2005 by uncertaintraveler Quote Link to comment Share on other sites More sharing options...
ToolMan Posted November 17, 2005 Share Posted November 17, 2005 I wish I could find the next Yahoo, Microsoft, ect...I look at it this way:2000 ($1000) shares of a $.50 stock is the same as 100 ($1000) shares as a $10.00 stock.If the $.50 stock goes up to $1.00 you make $500.00 at a 50% profit.If the $10.00 stock goes up to 10.50 you make the same money but it is a much safer company to invest in. Quote Link to comment Share on other sites More sharing options...
segovia Posted November 17, 2005 Share Posted November 17, 2005 I use the following sites for investing information. It is never too late or too early to start saving...www.morningstar.comwww.fool.comwww.vanguard.comwww.kiplinger.com Quote Link to comment Share on other sites More sharing options...
energyman2005 Posted November 17, 2005 Share Posted November 17, 2005 $1,000 will get you two shares of GOOGLE!!! Quote Link to comment Share on other sites More sharing options...
nmainguy Posted November 18, 2005 Share Posted November 18, 2005 Isnt there a rule to prevent insider trading that says u can't sell ur stock until a year after u bought it? No. Quote Link to comment Share on other sites More sharing options...
Subdude Posted November 18, 2005 Share Posted November 18, 2005 Isnt there a rule to prevent insider trading that says u can't sell ur stock until a year after u bought it?Lockout periods during which you can't dispose of a stock are very common with new issues, although I believe six-nine months is more common. The purpose is to prevent investors from being able to dump shares immediately after an IPO. Quote Link to comment Share on other sites More sharing options...
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