How does a start getting into the stock market?

[mmmmm...beer 692]

I'm not in the position to start with a pile of cash... maybe like a grand or so. So how does a guy start? Do I get one of those etrade accounts and fiddle fock around teaching myself?

 

Any advice for a stock market cherry?

[NorthernVike 2,080]

I'd get into a no load mutual fund with the grand. Then set it up to automaticly add say $100(or what you can afford) each month on EFT. Depending on your tax situation and or if the money is for retirement you may want to set it up as an IRA or Roth IRA.

 

 

One last thing.......

 

 

 

 

 

 

 

 

 

 

 

 

 

Drink more beer you pussy

[broussard 0]

How does a start getting into the stock market?

 

1. Cut back on beer...

[broussard 0]

Don't go w/ a no load mutual fund. Go and talk to a broker. What you're getting is someone who can answer all of your questions. Someone who can help you identify your asset allocation. It's not about picking the proper fund. It's about investing in the products that are most appropriate for you.

 

Seriously. This is good advice.

[NorthernVike 2,080]

Don't go w/ a no load mutual fund. Go and talk to a broker. What you're getting is someone who can answer all of your questions. Someone who can help you identify your asset allocation. It's not about picking the proper fund. It's about investing in the products that are most appropriate for you.

 

Seriously. This is good advice.

 

 

That is good advise, but its not like he has a ton of cash to invest in individual stocks. Until he gets some money saved up I see no problem with the mutal funds.

[Ambroc 0]

That is good advise, but its not like he has a ton of cash to invest in individual stocks. Until he gets some money saved up I see no problem with the mutal funds.

 

 

Agree. If you are serious about investing for the long term, pick a SPDR (basically a market traded mutual fund -- do a Google) or buy a Vangauard or otherwise low-cost mutual fund.

 

If you want to gamble, grab an Etrade account and pick your favorite stocks. Not recommended for the novice.

[broussard 0]

It's not about which mutual fund. It's about which mix of mutual funds....

[thekris 0]

I'm glad somebody started this thread. Sometime within the next couple of weeks I was planning on opening up an Ameritrade acct for like $500 or $1000. And see if they can withdraw $ from my account every week or month to add to it. I always here about diversification and that I'd be better off buying a mutual fund or an index fund rather than just pick and choose stocks I've heard of or enjoy their product. But I guess my question is which fund to buy. I don't have a ton of money at my disposal built up yet where I can really load up on international and large cap and small cap and all that stuff. But for the small amount of money I have, until I can build my account up anyway, what do you suggest I do? Maybe $100 in 5 different funds? TIA

[BMoney 0]

ameritrade isnt a bad idea..but keep in mind that youll need to purchase full shares...

 

 

i have a sharebuilder account....i put my tennis gambling winnings...err..savings into it and just accumulate shares, even if they are partials...

 

google and markel for me....currently...pricey but they are strong for the long run..

[NorthernVike 2,080]

I'd go with an ETF(Exchange Traded Funds)

 

Google it and you will get more info than you want. An example QQQQ(Nasdaq)

 

QQQQ quote

[CantTouchThis 23]

I am waiting till i got about 10 grand stashed away, then i'll invest about half, half for long term/retirement, and to go for my short term wealth. I am in the same boat, don't really know how to get started, but, i am not really even close to my 10 grand goal...

[Quickolas1 80]

many funds have minimums to invest in, $100 per fund may or may not be possible. find an allocation fund (conservative, moderate, or aggressive). it should already have a % in us stocks, int'l, bonds, cash. the mutual fund company can be your preference, the big fund companies all have them.

[broussard 0]

www.motleyfool.com

[Let Da Big Dog Eat 38]

many funds have minimums to invest in, $100 per fund may or may not be possible. find an allocation fund (conservative, moderate, or aggressive). it should already have a % in us stocks, int'l, bonds, cash. the mutual fund company can be your preference, the big fund companies all have them.

This is the best advice I have seen in this thread. Let's face it, $1,000 just is not enough money to warrant attempting to do anything else with it.

 

Don't go to an advisor. You will end up in a load fund so that advisor can make a commission. Load funds do not perform any better than no-load funds.

 

You can go to Yahoo Finance as a place to start. Not really that good, but it's a start.

 

Look for:

 

1. Consistent performance 1,3 and 5 years.

2. Fund manager that has been there at least 3 years.

3. Low expense ratios.

4. Low turnover. (Minimizes cap gains taxes).

5. Minimal dividends and distributions.

 

If it's an IRA, ignore 4 and 5.

 

GL

[thekris 0]

Thanks for your help everyone. Next week I'll open an account. Gotta wait til SuperBowl and see how my first investment goes so I know how much I can put away.

[TimmySmith 2,782]

Thanks for your help everyone. Next week I'll open an account. Gotta wait til SuperBowl and see how my first investment goes so I know how much I can put away.

Take the points.

[thekris 0]

Take the points.

 

I know it's off-topic but thinking Pats to win, Giants to cover.

[jocstrap 8]

TDameritrade - - Easiest thing I've ever done. Open an account, wait until your money clears. You will see available cash - - and you're off. It gets addicting watching your money go up and down daily.

 

each trade is only like $10 compared to $50+ from a financial advisor.

 

Have fun - with that TTM