Advice for new investors?

I have 00 that I recieved unexpectedly, so I’m going to start investing in the stock market in a week or two. Any general advice/websites I should visit to learn more? I haven’t thought about this stuff seriously since I participated in the stock market challenge thing in elementary school.

My name is Katy and I am Hirby's Financial Guru with 20 years of experience and expertise in financial markets, insurance and tax strategies. I'm inspired by those who pursue their financial goals and I am here to help.
My name is Tom and I am Hirby's Legal expert specializing in Real Estate and Injury Law. I have over 15 years of experience helping people online with legal advice and strategy.
February 28th, 2010 at 9:03 am
I have to recommend no load mutual funds. It is very hard for the individual investor to make money in the stock market. With a 1000 you can open an account at Janus mutual funds.
If you insist on buying stocks open an account at Scott trade where they have $7 trades and some service. I would buy ETF’s or closed end funds. Two that I own which I think are good and somewhat safe investments are symbols RVT and QQQX.
Bob Brinker has a pretty good educational site the URL is below.
That said saving money is hard and you want to do well with you money. Do your homework. I have a few links below. Best of luck to you.
February 28th, 2010 at 9:03 am
I would suggest reading The Bogleheads Guide to Investing. It is written by those who follow John Bogle’s investment philosophy – he is the founder of the Vanguard group and created the first successful index fund. It is written in easy to understand language. I lent it to my recently married daughter and they found it very helpful.
If you want a good initial investment I would suggest the Vanguard Star fund. It has a minimum investment of $1000 and $100 thereafter. It invests in a variety of other Vanguard Funds that mix Large, small and international stocks and bonds. So it is well diversified and low cost.
Remember investment means taking risk – there are no risk free investments.
Good Luck
February 28th, 2010 at 9:03 am
The library has a host of books available for research on investing. Websites are not a good way to gain firm knowledge on investing. Go to your local library and ask the librarian where to find books on investing. Read them all.
Suggested book:
The Intelligent Investor
February 28th, 2010 at 9:03 am
Websites:
http://www.investors.com (go to the "How To Invest" section)
http://www.investopedia.com
http://www.etfguide.com
http://www.mutualfundplanning.com
http://www.optiontradingpedia.com
http://www.stockcharts.com/school
http://www.daytrading.com.about
Books:
All About Exchange Traded Funds
Written by Archie Richards, Jr.
Real Money- Sane Investing In An Insane World
Written by James J. Cramer
Guide To The Markets
Written by the editorial staff of Investor’s Business Daily