Hi, My name is Trent Smith. I got more than 1000+ dollars from my small business to use every month to invest. I am currently 21 years old and I am profoundly interested in investing. My only problem is that I do not know exactly how to get started. More specifically what does on need to apply for in order to be able to trade and buy stocks, get mutual funds, CDs, and the likes. I've made mistakes in the past of jumping into things too quickly and this time I want to try and think this through and get information from you guys before I get totally into this. Thank you for you time. Any help would be greatly appreciated.
More specifically what does on need to apply for in order to be able to trade and buy stocks, get mutual funds, CDs, and the likes. To trade stocks you generally must have a brokerage account. Mutual funds can be bought directly from a mutual fund company. Vanguard and Fidelity are two such companies that are often suggested on these boards. Some mutual funds can also be bought through some brokers. Often you will be charged a transaction fee when using a broker.Certificates of Deposit (CD) can be purchased from a number of institutions including banks and brokers. For the beginning investor who wants CDs I would suggest you check with a local or online bank or credit union.I would suggest you start by reviewing TMF basics information at http://www.fool.com/investing/basics/index.aspx?source=ifltn... including the 13 steps to investing. Perhaps you can then refine and identify more specifically what information you are lacking.Bob
I have a question. What is your small business and is it something that you need to re-invest in?Razz
I suggest you start by doing a lot of reading. Jason Kelly's _The Neatest Little Guide to Stock Market Investing is an easy, entertaining read with a lot of good information.In brief, you need to understand what all the different kinds of tradeable securities are, and how they work. While you are learning to understand this you need to decide how greedy you want to be. With greed comes risk, generally speaking, so that'll pretty much determine what you want to go after.
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