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First open e-trade or Ameritrade. Buy any one of these. But with 10K, invest full in one and only one company.
BAC
MS
JPM
PM
COP
After you buy it, just leave it alone. Don't think you need to make any changes to it. After 10 years you will see the difference. Trust me. no one told me when I was your age.
Anyone can pick a couple stocks and think they know something more than the market does, however we all know they are just throwing darts like monkeys...
when i used to buy individual issues i think i broke even at best .
google the other day was a prime example of why no one without knowledge and experience should be buying individual issues.
it missed earnings and plunged 10% faster then you can say the word.
i once bought gm stock and ford sent me a thank you letter. lol
now that im retiring my feeling is i would have to buy so many individual issues to shed the individual company risk that i would now spend my time in retirement with a new job.
watching, monitoring and keeping tabs every day on so many issues and their competitors would end up being a part time job and that would just take to much time away from all the other things i would want to do.
It's "buy low, sell high" dude. You mean to say you would have bought these companies in 2006/07, when the prices and risk exposures were high, but not now when they are much lower? Hah. Last December, BAC was around $5 and I seriously couldn't help myself. I'd say the return so far has been... well, .
You do not need to keep tabs on your individual stock holdings daily, weekly, monthly. In fact I would strongly advise against it. Get off the performance treadmill; turn off CNBC. Stock is a share of a business. You don't buy a farm thinking about how much you can sell it for tomorrow. The price of a stock is only an offer, and you are free to reject it. If it's a bargain, buy more. Just like you would if you were buying real estate or a business, do your homework and have conviction in your decision.
. If it's a bargain, buy more. Just like you would if you were buying real estate or a business, do your homework and have conviction in your decision.
Here's the problem.
We have tons of people who post on the "investing" forum advising on certain stocks thinking they know something more than the market.
Usually if you look at past threads on a large popular stock, 50% predict the stock will appreciate, 50% will predict the other way....
Then you'll hear from the 50% who got lucky and boast about how they made money.
You will NEVER hear people boast about the commissions they pay or the losers they pick (which happens more than they wish to admit)....they just quietly go away.
That is not investing, its speculating/gambling and city data should have its own forum for people like this....
Probably because I'm an idiot, I went ahead with plan #1, which was to invest in an internet business between my friend and myself although neither of us have any idea what we're actually doing.
Fortunately, I've only invested 1K into the project so far. I can now see not only how much more work and money will need to be invested (our starting funds will not NEARLY be enough) but also how ill prepared we both were. So for those of you who advised against it, you can say I told you so.
I'm down to just about 9K now. I don't know how they caught wind of it, but my grandparents somehow heard that I was starting an internet business (I haven't even told my parents yet) and they have deposited 10K into my checking account. I called them and told them that I wasn't going to do the business anymore, but they insisted that I keep it and put it to good use. If anything, it was this gift of theirs that finally made me wake up and realize I was just throwing money away on something stupid.
With 19K, I'm now back to square one, except I'm officially taking that internet business option off the list.
1. Travel? My grandparents are actually encouraging this. Especially since I had no idea what I really want to do, and travel may help provide some insights.
2. Mutual Funds. I wouldn't know where to start.
3. Stocks. I wouldn't know where to start.
4. Real estate investing. My dad does this. Maybe ask him to help invest my funds?
5. Savings account.
6. Booze, drugs, hookers?
jk.
I'm leaning towards a combination where I'd use part of the funds to travel, and store the rest away in one of the other options.
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