Want to learn the stock market

[JCasper]

I am 26 years old and want to start learning the stock market. I have about $5,000 of extra cash laying around and would like to learn some things to start making that work for me. I don't plan on dumping that on my first stock, but maybe taking $1,000 or so and playing with it for a while. Is there any good books or websites that you could recommend I look at to help me learn a few things.



What about this capital one High Yield savings account? Anybody have any experience with them? I thought about sticking some money in there for a emergency fund.



http://www.capitalone.com/savings/h...25&source=210900&number=y0gmDALh5o4A5SLdaMxOu



Thanks for any suggestions.



Joe

 

[MKinner]

I would highly recommend reading Dave Ramsey's Financial Peace. http://www.daveramsey.com/ My wife and I took his Financial Peace 13 week course (one evening a week) and learned so much it isn't even funny. It gave me much more knowledge as far as what direction I need to go with my money. Covers everything from a daily budget to buying insurance to investing to spending money. His course on investing is good as he talks about the different types of investing, day trading, becoming a full time invester, is it good/bad, stocks, mutual funds, ect. His main philosophy is to become debt free and stay that way and and to build wealth. It all depends on your personal goals and what you want to achieve. Has it helped me? Yes, I am debt free and am building up my emergency fund in a Janus money market account. One step at a time... Good luck! #ad

 

[rbattelle]

Another free option is to read "Investing 101" at the LA Times website. I think they also have "Investing 201".



-Ryan

 

[Blu-meanie]

Try http://www.fool.com/school.htm?source=EDASK

 

[Jumbo Jet]

Buy real estate.

 

[DKayser]

Financial Freedom

Stay single. DK.

 

[JCasper]

funny

Stay single. DK.

Not going to happen. I'm married with a beautiful wife and two little girls.

 

[AfterBurner]

Grab Buffetology by Mary Buffet and David Clark. It's a great investment guide and describes the methods that Warren Buffet uses to pick his stocks.

 

[Rman]

investopedia.com has some good articles to read. A wealth of information. Just remember if someone had all the answers they sure as heck wouldn't be telling anyone else. Everyone has there own strategies, the system is extremely complex. Find things you like and go with it. Fees can kill you day trading, moving stocks around gets expensive. Funds have the diversity built in to them which takes the hassle out of diversifying on your own. Putting all your eggs in one basket is risky, all the experts say NOT to do this, but it can yield high returns. I've made a lot by taking these risks, but it was money I could afford to lose.



If you have a 401k, I suggest investing in that, or investigate it and see what your options are. Try managing that for a few months to get the hang of the market. Then delve into day trading and setting up your own portfolio with ameritrade, etc...



Good luck!

 

[Dane]

http://www.energy.gov.ab.ca/89.asp



http://finance.yahoo.com/q/bc?s=UTS.TO&t=2y&l=on&z=m&q=l&c=

 

[abdiver]

Blu-meanie, I came across this thread Because I am searching for you picture of where you placed your Painless. Anyway Check out The ING DIRECT Winter Save Up Sale is here! earn 4. 75% APY



We'd like to say thanks for being an ING DIRECT Customer by helping you save MORE money. Between January 19, 2006 and April 15, 2006, new deposits into your Orange Savings Account can earn 4. 75% APY!



https://secure.ingdirect.com/myacco....ingdirect.com/products/products.asp?nf=false



I have a good book for you to read and some other info But I don't have the time to look it up right now I will post it later. Mean time don't buy any individual stocks till you know more about the market and have 100K For now use No load Mutual funds Do you have a Roth is it fully funded or other Retirement account ?

 

[Elite1]

Blu-meanie, I came across this thread Because I am searching for you picture of where you placed your Painless. Anyway Check out The ING DIRECT Winter Save Up Sale is here! earn 4. 75% APY



We'd like to say thanks for being an ING DIRECT Customer by helping you save MORE money. Between January 19, 2006 and April 15, 2006, new deposits into your Orange Savings Account can earn 4. 75% APY!



https://secure.ingdirect.com/myacco....ingdirect.com/products/products.asp?nf=false



I have a good book for you to read and some other info But I don't have the time to look it up right now I will post it later. Mean time don't buy any individual stocks till you know more about the market and have 100K For now use No load Mutual funds Do you have a Roth is it fully funded or other Retirement account ?

Abdiver, if I read the fine print on the ING 4. 75% savings account, it seems you only get the 4. 75 until April, then it reverts to whatever the going rate is... Check out #7 below:



7. What happens to my money after the promotion ends on April 15, 2006?

All of the money in your Orange Savings Account will receive the current APY at that time. (3. 80 at this time)

 

[abdiver]

Abdiver, if I read the fine print on the ING 4. 75% savings account, it seems you only get the 4. 75 until April, then it reverts to whatever the going rate is... Check out #7 below:



7. What happens to my money after the promotion ends on April 15, 2006?

All of the money in your Orange Savings Account will receive the current APY at that time. (3. 80 at this time)

Elite1, Glad you read the fine print. At this time I have 1 dollar (to keep account open) This is APY which is different form APR. But I am Planning to place all my short term cash Presently at 4% @ Emigrant to gain the . 75% extra at ING and if ING drops the rate in April I will go back to Emigrant For 3 months let say I have 50K to place there for 3 months the differance from the 4% I am NOW getting at Emigrant to the gain I will get at ING will be a little over 90 bucks. I aint going to retire on 90 buck but it is a move in the right direction and it is a safe investment its a Money Market. ARE you getting 4% on your money market at this time. If not you will even gain more with this deal. What ING is hoping is that you will place your money with them they can use it and make money on your money and then YOU withdraw money to pay bills and when they subtract the difference from what you initially gave them to what you withdrew the difference is what they will pay you the 4. 75% again I am glad you read the fine Print. Even at 3. 8%, that is most likely more than you are making on your existing MMKT account. Hope this helps, Please excuse me while I transfer some $ to ING

 

[bmoeller]

Look at www.thestreet.com ?

 

[JCasper]

Discount brokers

I want to open an account with one of the online brokers. I was thinking about scottrade. Any opinions? (etrade, ameritrade)



I have some money sitting in a IRA savings from my last job that I took out of my 401K. I would like to transfer that into a IRA based mutual fund that would get me some decent returns. There is not a lot in there, around 15K. The IRA savings pays next to nothing. It was just somewhere to move it to when the company went under. I assume I can roll that right into something at a company like scottrade.



I think then I am going to leave that money sitting in the IRA, and open a Roth IRA to contribute to and just start from there. Once I get used to how this online trading and stuff works, I will then take !,000 dollars or so and try to find a stock or something that interests me and start playing with it.



I appreciate everyones responses and opinions.



Thanks, Joe

 

[AMink]

I have about $5,000 of extra cash laying around

How 'bout twins and a few other BOMB's? Just kidding. You're at a good age to start planning ahead, especially with two young 'uns.

 

[JCasper]

How 'bout twins and a few other BOMB's?

Not a bad idea, wish my wife would go for it.

 

[guava]

I want to open an account with one of the online brokers. I was thinking about scottrade. Any opinions? (etrade, ameritrade)



I have some money sitting in a IRA savings from my last job that I took out of my 401K. I would like to transfer that into a IRA based mutual fund that would get me some decent returns. There is not a lot in there, around 15K. The IRA savings pays next to nothing. It was just somewhere to move it to when the company went under. I assume I can roll that right into something at a company like scottrade.



I think then I am going to leave that money sitting in the IRA, and open a Roth IRA to contribute to and just start from there. Once I get used to how this online trading and stuff works, I will then take !,000 dollars or so and try to find a stock or something that interests me and start playing with it.



I appreciate everyones responses and opinions.



Thanks, Joe

Regarding online trading companies, I like using USAA. Not the cheapest but service is there. My opinion from experience with ameritrade is the fees can get you if you don't know which ones will apply. Low balances, not actively trading.....



IRA vs. Roth IRA-----Numerically, there is an advantage to the Roth by paying the taxes on the money now (if your young like you are) rather than paying the taxes when you start collecting. This holds true for taking your existing IRA and 'rolling' it over into a ROTH IRA.



There is a strategy to it so you don't cross any tax brackets and an accountant should be able to calculate how to do it best.



I'm happy to answer any questions, just ask.



john

 

[RGardner]

My only advice is to be very careful with your money. Everyone is an expert at investing with your money! A good conservative mutual fund is something to think about.

 

[abdiver]

My only advice is to be very careful with your money. Everyone is an expert at investing with your money! A good conservative mutual fund is something to think about.

JCasper

The above is very good advice, Don't be in a hurry. learn about laddering CDs for some easily availible cash. Place a 500 to 1000 buck in each account that way you always have a CD maturing and it is earning you more interest than a mmkt. Though at present time some MMKTs are better that CDs but this will change. Check out Bankrate.com and read books Lots of finacial info online, learn, learn, learn.



Fully fund your retirement accounts use zero load mutual funds, and watch those credit cards keep the Credit card balances at 0 pay them off each month.



Its steady that winds the race



I would suggest you start of with Vanguard and or Schwab they both offer lots of information. REMEMBER LEARN THE MARKET before you start buying individual stocks. You can loose a lot real fast with the wrong stock.



I have found being Patience is the thing to do when considering the stock market.



May I suggest you print out the above quote from RGardner and place it where you see before you start thinking about buying an individual stock. Spend a year or two learning about the market, you have time and you already are starting to do it Right, by asking Questions.



Good Luck, Bill