Stocks
 

I admit to knowing nothing, not even knowing where to start.
Please no bullshit responses, PLEASE. I know there are a lot of smart people who can comment on this. If one wanted to start out/ get into stocks and was willing to put $500 a month into it, how would you go about it? Is $500 a month pennies in the stock market? Can you make $ off it?
Thanks.

Actually at your age $500. would be a good start. Pick a fairly aggressive mutual fund from a company that has low fees (Vanguard would be an example) and put it in every month. That would be a good start. Also you should put $50 in a college fund for your kids every month even if this means you can only invest $400 for yourself.

Stop betting on sports other than horse racing, you will never win. It is too hard and you bet with your heart too often. Your opinion on horse racing is decent but just do it as a hobby.

Just sell weed.

Im strongly considering stopping totally on sports, maybe a bowl game or super bowl w/ a local book, but closing online accounts. I put $70 a month away for my sons, its been that way for 6 years now since Dom was born.
The vanguard, my uncle mentioned that... $3000 up front?

Also what can you realisticly make? Should you expect to lose your $?

Whatever you can afford. You are young enough that it will build over the next 40 years until you need it.

I've done a lot of the same stupid crap gambling that you have done. That's why I gave you a little advise to get out last year when I sensed you were getting in trouble. I bet 10-15 games a year now only when I have a strong opinion and it works for me.

I bet 10-15 a week. Im taking a stand tonight on a game I LOVE. I am officialy done, if it does not work out.

Back to stocks, is losing your $ likely?

I really want to learn. Is it something you can make a quick score on, or is it long term stuff?

To answer your question, if you are investing for the long term, historically you shouldn't lose money. If you put your money in and out and move it around all the time, there is a chance that you will lose money.

I only invest in funds and stocks as a vehicle for retirement. If I make a big score on a stock or two I just buy something else with the profits. I don't need the money I invest for day to day life.

Oh my god

Nov 1, 2010. 7:02 p.m

The start of the second dip of the recession.

That were funny!!

Not enough money to make a real impact. If it were Delta Downs there could be trouble.

What exactly is a mutual fund?

stop.

You clearly know, I never cared enough to know, so help... I know its a # of different stocks, but what exactly is it?

if you don't even know what a mutual fund is, i suggest you go to a financial advisor that handles smaller amounts and getting a bunch of advice. get help, or you'll do as well with your investing as you do with your football betting.

stop

I have someone already, he said if you can afford only $500 a month I suggest a mutual fund to start.... Leave the stupid comments out, PLEASE. Thanks.

wait...you ask what is a mutual fund. i suggest an advisor...and i'm the one making a stupid comment??

go online, and do some research. not here, on financial sites.

stop it!

When I started the thread people discussed it with me, if you have a problem then just dont comment, right?

Told ya.

I think mutual funds are probably the safest place right now. You're not putting all your eggs in one basket, and you're paying someone to be the guardian of your funds.

A place to start -

http://www.essortment.com/all/howtoinvestmo_rguq.htm

Also, google "how to invest in mutual funds", a myriad of links will pop up.

those fees add up the doreen , almost as bad as the takeout

Gales help me then bro, FOR REAL. I tryed helping you, Toga... Remember?
I can afford $300 a month and not have to cut anything, $500 a month if needed... Is that not enough?

no loads don't.

if you are really going to put money into mutual funds for a peroid of time say 10 , 20 , 30 yrs , go with the index funds

the index funds have the lowest costs and over time outperform 95 % of all the mutual funds

over the course of 10 , 20 , 30 yrs , if you can save money by not paying froned end fees , 12b1 fees and early withdrawl fees you will outperfom 95 % of all the mutual funds out there

there are too many average people out there managing money , stick with a plain vanilla index fund and laugh all the way to the bank in 30 yrs

they get you with the 12b-1 fees doreen

Do you need a set amount up front, is $300 a month simply not enough.... If you wanna PM me, thats cool.

i'll check , there are some where you can get in cheap and don't need $3k

Put him into a Dividend reinvestment program.

yup , KO or PEP would probably be good for Joe

simple porduct , leader in the field , and the product gets used over and over again

Seriously, no fees, deal with computershare or a company like that and he can buy as much as he wants.

i agree

can't think of better drip out there than KO

and he can buy the product at the track or otb

it's gotta a decent yield right now as well that will only grow over time for him

Fine! But just how is a person who isn't investment savvy going to go about investing without paying someone a fee for their services? I'd say no-loads are the safest and the least costly in fees. Perhaps it might be best to save whatever one can afford a month and invest a lump sum a couple times a year. Buy a no penalty CD once a month. The interest is crap, but it's better than a savings account.

There is so little anymore on which to make money - real estate investing is not for the faint of heart, stocks are scary, money market, CD's, savings accounts pay little. And, IRS will be stepping in come the first of 2012 to monitor precious metal buying and selling above $600 through coin dealers.

Are you saying I should not do stocks and continue to bet horses and lose my money every single day since Saratoga?

as matt said doreen , drips , drips , are pretty good , simple one's like ko and pep , companies that are going to be here in 30 + yrs

If you feel comfortable investing in individual stocks on your own, go for it.

If you're losing money betting the ponies, don't do it - that's a savings right there.

You asked for help. Was just trying to help. I will leave the discussion to the experts.