I called a broker and asked what I could do with 00 to invest. I didn’t want long term , or – I just wanted to risk the cash and buy something I could watch go up or down on the market – He said with such a small amount of he’d be wasting his time to work with me. Is my idea really that crazy?

 

  • mntndo 5:04 am on February 28, 2010

    You can invest with $500 minimum with a discount broker online. I use Scottrade. It is not a crazy idea. You don’t need a full service broker who is there just to make themselves a commission, not to make you money. Once you deposit the money you can buy any amount of stock just remember the commission cuts into it, but many people buy $100 worth in penny stocks.

  • Will C 5:04 am on February 28, 2010

    You can buy any amount of stocks the thing is, if you put in 1000 dollars and only end up with a 2 or 3 percent return, you’d be wasting the brokers time because you can manage it on your own, if you want to invest the 1000, find someone who will tell you what to buy, try another broker, then keep buying until the you get a decent amount of annual return ie. if you buy 25,000 worth of stocks and get 10 percent return you made 2500 dollars instead of 100 dollars on 1000

  • ignatious93 5:04 am on February 28, 2010

    Well, no. Anyone who bought $1,000 of Microsoft when it went public is a millionaire today.

  • shiprepairwoman 5:04 am on February 28, 2010

    He doesn’t want to waste any time earning a commission that might be 9.95 for the firm so if he is commissioned he would get like $2 to spend hours teaching you about stocks.
    You can open a no load mutual fund from a fund family like Vanguard if you have the minimum there isn’t any cost to purchase and you have fees on the account, read the prospectus to find the fees and goals of any fund you choose.
    You can open it as a IRA or ROTH IRA so you don’t have to track you cost basis for your taxes.
    You can buy a single share of stock but after commission you would never make a profit the first few years.
    Mutual funds avoid the whole eggs in one basket thing.

  • investings s 5:04 am on February 28, 2010

    Hi, i recommand you a good and basic tutorial for investing. it covers all Issues related to your Investing and everything around it.

    http://www.investingtutorial.info/

    wish it will help you.

    Good Luck , Best Wishes!

  • Mon Z 5:04 am on February 28, 2010

    hi, your intention to make use of your money by investing it is really good, but making money by investing is not easy. you have to first study, study and study. don’t let anybody tell you what to do with your money. you can only do that if you EDUCATE yourself FIRST.

    warren buffett has 2 golden rules with money and investing.
    rule no.1: don’t lose money
    rule no. 2:don’t forget rule no.1

    do yourself a favor, educate yourself first before thinking of putting at risk your money. buy books like:
    1. technical analysis by john murphy
    2. come into my trading room by elder alexander
    3. the new market wizards by jack schwager
    others…

    you can DEMO TRADE this http://www.northfinance.com/ forex/indexes/cfd/futures/metals broker by downloading the software metatrader (you don’t have to call anybody when you place/open a trade with this, you just put key it in in the software). if you are serious about trading, demo trade first and as you gain experience and confidence, that only then you should think of opening a live account.

    if you trade without educating yourself first, you might as well bring that money in a casino.

    my two cents.

    i hope am able to help.

  • Adam J 5:04 am on February 28, 2010

    The broker is a jackass.

    You can easily invest $1,000 online.

    You just need to:

    1) Open a brokerage account
    try http://www.tradeking.com, or http://www.zecco.com. Be sure to read the fine print before you open an account.

    2) Personally I would recommend investing in an index fund of some kind (you can buy what are called exchange traded funds, mutual funds that trade online, for example IVV) since it’d be hard to diversify properly with only $1,000. But if you can afford to risk losing a substantial part of the $1,000 there’s nothing inherently wrong with investing it in one company.

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