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OT: How to learn to invest

Discussion in 'General Discussion' started by ShaunK, Sep 30, 2008.

  1. It's about time I started getting more serious about investing my money. I don't have a lot, but I need to start somewhere. I'm asking for what you think is the best way to learn how to do this. I'm NOT asking opinions on how to invest, or what to invest in, nor where you think the market is going. I DON'T want this to turn political and get locked. I'm just looking for tips/books/websites you think might help me get started, learn the terminology, etc and help me decide what's best for my situation... Thanks!
     
  2. Try The Motley Fool www.fool.com

    A good place to learn.
     
  3. Cool! I've seen columns in the paper by the same authors (?) but didn't know there was a website. Nice!
     
  4. Looks like another full site. Thanks, that's just what I was looking for. Keep 'em coming! :smile:
     
  5. I would recommend that anyone new to investing buy, or borrow from a library, a copy of "A Random Walk Down Wall Street", by Burton Malkiel.

    Put this by your bed and read a few pages every night before going to sleep.
     
  6. That's cheap enough to buy... it looks like it would be a good investment :tongue:. Thanks!
     
  7. Sounds good, I'll look into it as well.
     
  8. gladjo

    gladjo Guest

  9. TheKO

    TheKO

    461
    May 3, 2005
    Tampa, FL
    Start watching "Fast Money" and "Mad Money" each evening on CNBC. Watch for several weeks and observe what happens to the market/stocks after they tell you what to do. You will begin to get a feel for the market - and costs nothing - if you get CNBC.
     
  10. I don't get CNBC, but I can maybe look on the Internet?
     
  11. If you had purchased £1000 of Northern Rock shares one year ago it would now be worth £4.95, with HBOS, earlier this week your £1000 would have been worth £16.50, £1000 invested in XL Leisure would now be worth less than £5, but if you bought £1000 worth of Tennents Lager one year ago, drank it all, then took the empty cans to an aluminium re-cycling plant, you would get £214. So based on the above statistics the best current investment advice is to drink heavily and re-cycle. :biggrin::biggrin:
     
  12. Always contribute the maximum amount to your 401k every year. And invest outside of the 401k as well. Higher risk can be worth it as a younger person but as you age, seek higher stability.
     
  13. LindaZ

    LindaZ

    Jul 29, 2007
    Wilmington, NC
    (The American version of the one above)

    If you purchased $1,000.00 of Delta Air Lines stock one year ago you would have $49.00 left.

    With Enron, you would have had $16.00 left of the original $1,000.00.

    With WorldCom, you would have had less than $5.00 left.


    But, if you had purchased $1,000.00 worth of beer one year ago, drank all of the beer, then turned in the cans for the aluminum recycling REFUND, you would have $214.00 cash.


    Based on the above, the best current investment advice is to drink heavily and recycle.

    It's called the 401-Keg.
     
  14. You may not read this is the books you read. In the U.S. profit from Municipal Bonds are tax free. Buy AAA rated and insured.
     
  15. PJohnP

    PJohnP

    Feb 5, 2005
    Shaun :


    To echo Nick, always add the maximum to your 401K, but in another light, the way to learn to invest is to learn to be disciplined in setting money aside from every single paycheck.

    That means sticking to the plan you develop regardless of lenses, camera bodies, HDTVs, etc. The only reason to stop is literally a disaster - e.g., major health issues, loss of job. Otherwise, every darned pay period includes saving some fraction and placing it into your investment vehicle, even if it's simply an interest bearing bank account.

    Simply save.



    John P.
     
  16. One of the best ways to save money in your lifetime is to NEVER EVER finance any purchase with credit cards. I learnt at a very tender age "If you've lived this long without it, you can live a bit longer until you can afford it". I use credit cards all the time, but pay them each month. They're great for keeping track of receipts, you get to use some else's money for 21 days but you should never carry a balance. Those interest rates will wipe out ANY investment earnings in a heartbeat. Sound financial practices (no credit card financing, paying your savings account each pay period as PJohnP says) will get you into a sound position later in life. Another thing, buy a place to live instead of paying rent. Get a roommate if you can't afford it on your own. After this financial crunch is all over, you'll build equity.
     
  17. Thanks for all the great advice! I am currently looking into the books/links. Thanks!

    As to some of my personal... I don't have a 401K... My retirement is all on me (I teach at a small private school that doesn't have that set up.) This is why I REALLY need to get started now... and with the market being what it is, it seems that soon will be a good time to get started. I'm in for the long-term, no quick flips or sales for me, so what I am looking for are investments that grow slowly but steadily. If I make enough over the next few years, I'll try to take some extra and re-invest in the quick-term things for some immediate profit. As to being disciplined, we certainly are! We don't go out to eat much, and to know what technology I keep up with, just look at the camera I shoot with! :tongue:
     
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