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Old 02-13-2013, 08:56 PM #1
purple crayon
 
 
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Where to invest?

I'm 21 and have about 3grand in savings wondering if I should use it to invest, I was reading about roth Ira's but don't really understand why people invest in them when you can go to the bank and invest money into a 401k plan. I've always wanted to invest money into a solid business like Apple / Microsoft etc would I need to do this with a online broker? And is there any downfalls to doing this?
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Old 02-14-2013, 01:18 AM #2
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how old are you?

have you considered investing the $ in your own business?

that $3,000 could create a business that pays you $3,000 monthly eventually, or even weekly, you never know.

You could then move parts of that money over into other investment vehicles.


as far as ROTh's and such, the benefits and such have to do with taxes. one school of thought says "use before tax dollars" others say pay your taxes now and get them out the way. Investment managers etc tend to prefer the 1st because they get to play with and charge fees on a large sum, they aren't responsible for your taxes so what do they care
about that. eek


There's always risk

you could lose all $3,000 of your investment.
Would that affect you greatly? These are things to consider

best of luck! always great to see new interest in investing
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Old 03-13-2013, 08:58 PM #3
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If you have time to sit on a stock, get a nice blue chip with a dividend. dont go for microsoft either. And apple's a little bumpy right now, so I'd stay away from that for now.
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Old 03-14-2013, 12:17 AM #4
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What is your financial situation?
How much income do you have?
How much debt do you have?
What is your current savings/other assets?

Need more info.
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Old 03-22-2013, 08:46 PM #5
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Sorry guys I totally forgot about this thread. My income is 9$ a hour with no bills, no debt. I have about six grand saved up. What kind of business should I start? My job is a seasonal job at a ski resort. So far I invested into a retirement plan through my bank. But I can't touch it until I turn sixty years old. Hopefully it will be like twenty thousand by then.

I put four hundred into a retirement plan. I was thinking about opening up a bar or liquor store. Maybe a smoke shop since a lot of people smoke and drink on regular basis. Maybe open up a car wash. Not sure what kind of successful business I could start. Protoballer when referring to blue chips you mean like scott trade . com? Got a good site I can read about or maybe start a small investment? Should I do a Roth IRA for retirement or go for a mutual fund or any other suggestions. I keep reading a 3,000 minimum. I think I should save up more money before I jump into a situation like this.

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Old 03-27-2013, 01:32 PM #6
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I may be crazy but it is going to be hard to start up a business on 3k. You'll need like ten times that. Most franchises will want you to have at least $1 million in net worth and $300k in liquid assets.

I'd go with the Roth to be honest. I started maxing out my IRA when I was like 21 (should've started at 18) and it has a sizeable amount in it. The IRS also just upped the maximum to $5,500. It'll have a million dollars in it by the time I retire.
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Old 05-27-2013, 02:41 PM #7
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You're young you can take gambles. Study the stock markets and if you're smart you can make a killing. Start studying trends and learn how to map charts, and watch news. Pic a few stocks that you are interested in and study them closely. many stocks ill fluxuate a few % throughout the day. If you can get in on the low and sell on the high(obviously everyone wants to do that) you can make a living just by day trading, the key to this is stop losses and buy minimums. Or you may want to invest in a start up company or take a gamble on a volatile stock.

For example roughly 2 months ago Fannie Mae was starting to get A lot of interest in the news, before the collapse of the economy it was trading at over $100 a share iirc. So I took a chance and bought $5000 worth of shares at around $0.55 a share or roughly 9k shares. Within a week the shares were at almost $1.50 it was an obvious pump n dump so i got out at like 1.47 and made a killing. The next day the shares plummeted down to right around where I bought at. Last week the shares kept climbing and I bought back in at $1.70 and sold a few days later at around $3, made a killing again.

btw I'm 23 Im not rich, I have just made a few good investments since I was 18 and that brought me to where I am. I'm not saying that planning for retirement is a bad idea, just saying that you're still young and you can take the chance. Just be careful you can lose all of your money really quick.
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Old 06-13-2013, 07:41 PM #8
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Quote:
Originally Posted by Ryan6789 View Post
You're young you can take gambles. Study the stock markets and if you're smart you can make a killing. Start studying trends and learn how to map charts, and watch news. Pic a few stocks that you are interested in and study them closely. many stocks ill fluxuate a few % throughout the day. If you can get in on the low and sell on the high(obviously everyone wants to do that) you can make a living just by day trading, the key to this is stop losses and buy minimums. Or you may want to invest in a start up company or take a gamble on a volatile stock.

For example roughly 2 months ago Fannie Mae was starting to get A lot of interest in the news, before the collapse of the economy it was trading at over $100 a share iirc. So I took a chance and bought $5000 worth of shares at around $0.55 a share or roughly 9k shares. Within a week the shares were at almost $1.50 it was an obvious pump n dump so i got out at like 1.47 and made a killing. The next day the shares plummeted down to right around where I bought at. Last week the shares kept climbing and I bought back in at $1.70 and sold a few days later at around $3, made a killing again.

btw I'm 23 Im not rich, I have just made a few good investments since I was 18 and that brought me to where I am. I'm not saying that planning for retirement is a bad idea, just saying that you're still young and you can take the chance. Just be careful you can lose all of your money really quick.
Don't listen to him .

Charting is for fools . Timing the market doesn't work .

Index funds beat 90% of actively managed funds . Buy diversified holdings etfs & mutual funds based on different indexes and hold them for a while .

Getting rich quick is gambling . Acquiring wealth takes time .

Plus you will get raped in short term capital gains tax and transaction fees
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