The Motley Fool Discussion Boards
Birds of a Feather / Teens and Their Money
|Subject: Re: Starting Out||Date: 8/2/2011 6:52 PM|
|Author: desertdaveataol||Number: 2660 of 2683|
Hello. I am a teen hoping to start investing. I was wondering, what is a good online broker for a teen who as 500 or less to start with? Or do I need to save up more before I start investing?
There are two kinds of stock buyers:
Traders must spend a large proportion of their time finding, evaluating, buying and watching and selling their stocks. They pay a lot in broker's fees and taxes. They often brag of their successes but we seldom hear of their losses.
Investors spend a lot of time finding and evaluating quality stocks which they don't have to watch like a hawk. Then they sit back and watch them grow.
I take investing one step further and invest only in stocks that pay dividends. Right now three of the big name stocks we own are PNY, SO & WTR.
Without going to a broker you can start DRIP accounts at PNY, WTR and SO for as little as $250 and/or setting up a monthly payment plan for as little as $50 a month. You can do this just by contacting the companies. NO broker = NO fees.
PNY (Been paying a dividend for over 33 years.)