investing in stocks
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investing in stocks
| Sat, 11-26-2005 - 10:47pm |
Hi all! I was just wondering if anyone knows anything about investing in stocks. I am totally new to this idea and know nothing...all I know is that I want to do something that brings in a better return than a savings account (although I will be putting some money into an ING account as well) and that I can access whenever I need to (no waiting for a certain amount of years, etc.) Any advice would be appreciated, I don't want to mess up but I only have a small amount of money to put into it. Thanks!

If you still have any debt, then you should make that a priority, and use investing in stocks a reward for when you have paid the debt.
So other then my IRA, we do not invest right now.
JMHO,
Shannon
Shannon
Our financial advisor said that he did not recommend investing in stocks unless you have a large amount of money for investing. He said that he generally did not encourage stock investments for those who had less than $350k to invest. Mutual funds provide a safer option and statistically have better returns. Mutual funds are managed by companies who do nothing but financial investing. They decide which stocks to buy and sell. This means that when you invest in a mutual fund that you have someone else who will do all of this work for you. In my economics class we learned that the S&P 500 funds generally out perform the market. There are a variety of mutual funds to choose from for investing. If you want quick access to your money with no penalties I suggest a money market account. However, as someone else said, paying off debt first is a wise financial move. The interest charged on credit cards makes it better to pay those first. These rates are typically much higher than the rates earned in the market.
Angie