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I know nothing about investing, but I was told to invest in energy and the asian stocks, are these good to invest in and how does one do that. What other investments are good to look into.Which brokerage firms are good to deal with as well.
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April 11th, 2010 at 9:05 am
I agree with Kevin as far as listening to other peoples’ tips. What’s right for one person may not be right for you.
If you’re just starting out, know that mutual funds are long-term investments (5 years or more). If you’ll be needing this money before 5 years, you’re better off sticking this money in money market accounts and/or bank CD’s.
That said, your first mutual fund should be a diversified one (do NOT focus on energy or asian stocks – that type of focus comes later, as you add to your portfolio). A great ‘core’ fund would be an S&P 500 index fund. These funds spread your investment across the 500 largest companies in the U.S., and are available at most mutual fund companies.
You can invest through your bank, or through a stock broker/investment advisor, but if you do this you will have to pay a sales charge (commission) of up to 6%, depending on how much you invest.
The best (cheapest) way to invest in mutual funds is to go directly through ‘no load’ fund families (a load is a sales charge). My favorites are T. Rowe Price, Vanguard, and Fidelity. All have excellent websites, and all have extremely friendly and knowledgeable telephone reps.
I hope that helps. Good luck!
April 11th, 2010 at 9:05 am
they are good if you would like to make your fund manager rich. i own an investment company and we sell investment property to investors such as your self. i can explain things a little better if you email me at johndskaggs@yahoo.com you can also check us out @ http://www.youtube.com/jdsproperties1
April 11th, 2010 at 9:05 am
People like mutual funds because they are relatively safe, meaning you are not likely to lose money, and they usually have an interest rate way higher than just putting your money in the bank. Its the best all around choice for investing. And to invest you can go to your local bank and they will set you up.
April 11th, 2010 at 9:05 am
Read the Morningstar Guide to Mutual Funds by Christine Benz before you do absolutely anything else. You should also pick up a few general investing and stock books. All these can be found at a library or cheaply from amazon.com.
The tutorials at investopedia.com are a priceless resource as well. It will give you background to everything you want and don’t want to know about investing.
You can email me with any questions. Don’t listen to anyone’s tips. There is a big rule in investing: once the common folk are persuaded that something is going higher, it will reverse, and vice versa. Don’t take tips. Investing for the long haul is likely your best strategy if you do not desire to learn too much, so you should ignore the opinions of everyone except your financial adviser (if he/she knows what he/she’s doing, which in this field is a very, very big if).
Best of luck.