5 Responses to “I’m 23 and still in college, once i’m out where do i start investing?”

1. The Old Guy Says:
   May 11th, 2010 at 1:06 am

   Before you invest in any security, or in any investment product, the first investment you should make is in yourself, and the best investment you can make is by educating yourself.

   Start your education by learning why you should invest and the importance of being able to make your own decisions on the products that are available in the various markets or how the pro’s make theirs.

   Here is some reading material that can get you started in the right direction, The first book you should read is Rich Dad Poor Dad by Robert Kiyosaki

   Then try some of these
   What Works on Wall Street by James O’Shaunessey
   Beating the Street by Peter Lynch
   One Up on Wall Street by Peter Lynch
   The Warren Buffett Way by Robert Hagstrom
   How to Make Money in Stocks” and 24 Essential Lessons for Investment Success both by William O’Neil

   Get into the habit of making daily visits to some websites like MSN Money and Yahoo Finance. (http://moneycentral.msn.com/home.asp http://finance.yahoo.com/ )

   While at MSN following the strategy lab analysts to get a feel for what the pros are doing and why. This site has some basic information for beginners.

   Other website that can provide instructions and help with procedures and terminology are Investopedia – http://www.investopedia.com/ Stock Charts – http://stockcharts.com/ http://www.investorshub.com/ http://www.1source4stocks.com/

   Visit some of the more professional websites like Zacks – http://www.zacks.com/ Smart Money – http://www.smartmoney.com/ Schaeffer’s – http://www.schaeffersresearch.com/

   Some of these web sites will have advertisers who are worth looking into also. And remember, if they offer free information, get it.

   There is no logical reason why you can not begin to educate yourself now rather than wait until you’re out of college. I started investing/trading in grade school and trading paid my way through college. Sp get started,. go for it NOW, and don’t wait, you’re loosing valuable time.

2. Shannon L Says:
   May 11th, 2010 at 1:06 am

   I would suggest you start now, even if you only have a little amount of money to work with. The sooner the better. Three years doesn’t sound like much time, but with compounding interest working for you, it makes a huge difference.

   Check into puts and calls. Basically, you want to buy when things are on the move up, sell when things are on the move down. Look at a moving average on the stocks you’re looking at. Purchase at 40% or greater below retail. Check You Tube for a guy named Don Harrold. He’s got some investing tools that will help you locate good stocks to do this with. You basically don’t want to get into a mutual fund or stock for a long haul. You want to ride the highs, sell before they drop and then get back in on their way back up.

3. Jay Says:
   May 11th, 2010 at 1:06 am

   Start with learning some basic terms, like what "IRA" "Mutual Fund" and "Stocks" mean. For example, you’ll need to know that "IRA" refers to a specific type of retirement account and can contain most financial instrument, including mutual funds, bonds, and stocks.

   A very important term is diversification.

   You’ll need to read up on the risks in different forms of investing. Stocks, historically, have given (on the whole) good returns, but with relatively high risk. A savings account, on the other hand, offers poor returns, with virtually no risk.

   There is not surefire way to retire rich. As people have seen over the last few weeks and months, it’s easy to lose everything in a short period of time if you aren’t careful.

   But being too careful means that your money won’t grow. In fact, with inflation, putting money in a savings account will actually lose you money, even if you’re earning interest.

   You’re young! Which means you can afford to take a few extra risks. Don’t put all your money in high risk stocks, but don’t be shy about the stock market.

   My best advice: read a book or two, read the business section of a major newspaper (NY Times, Wall Street Journal, Washington Post) or financial magazine, and then.. once you’ve got a basic comfort, start putting money into an index fund or a highly rated mutual fund. Use dollar cost averaging to take a little each paycheck and invest.

   Then, once you’ve got more experience and knowledge, branch out into individual stocks.

   Put money into an IRA or 401(k). This money, since you can’t touch it until you’re retired, will have some tax benefits.

   Good luck.

4. src50 Says:
   May 11th, 2010 at 1:06 am

   Start with basic education: read "Investing For Dummies."

5. Money Expert Says:
   May 11th, 2010 at 1:06 am

   The best way to invest money is to invest in someone’s existing business. I have invested in my friend’s small business based in Europe and now I am getting guaranteed high returns (over 20% a year). Feel free to email me at pupking@luckymail.com for more details if interested.

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