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ABV · 12-16-2003

Don't invest in the stock market unless you have alot of extra money (expendible) laying around. This is extra money that you have nothing else to do with. If your saving up for a turbo or something, don't put that money in the stock market. Most places like Ameritrade require a $2,000 minimum to open an account.

For someone who isn't very familiar with the market, and who doesn't have the time or energy to watch it constantly (basically everyone except for mutual fund managers and day traders), your best bet would be to put the money into a mutual fund. That's basically a pile of diverse stocks from several different companies, covering a few different industries. The good fund managers will do thier research and pick companies that have good potential to grow, as well as pick a few cornerstones of the market, that will not fluctuate as much.

One thing to remember, is that it's temting to put money in and try to make a quick buck. And that is entirely possible, but your biggest gains will come from the long term investments. 5 or more years.

What I would do if I was you, is to do some research on money management. There's about 5 billion books you can find on the subject. Once you know a little more about the market place and how it works, your potential gains and losses, you will feel much more comfortable about the decisions you make. One thing to keep in mind is to not go off of something you hear on the news, or read on the internet. Do your own research, and decide what's best for you.

Personally, if I was in your shoes, I would open up an IRA. I've said it before, and I'll say it again. The best time to put money into a retirement account is when you're young. I know it;s not as glamorous as making $5 million in 2 weeks in the market, but come on. That never really happens. Here in the real world, your best bet is to plan for long term investing. Saving even a few hundred dollars (or more... whatever you can put in) will pay huge dividends in 35-40 years. You could buy a new turbo now, or you could buy a new car when you retire. Yes, it really does make that much of a difference.

Don't get me wrong, I'm not telling you not to play in the stock market, but the most important thing is to research your options, and decide what is best for you.

12-16-2003	#2
ABV Admin Who Wants To Be A Millionaire Champion! Join Date: Oct 2003 Location: Minneapolis, MN Posts: 939	Don't invest in the stock market unless you have alot of extra money (expendible) laying around. This is extra money that you have nothing else to do with. If your saving up for a turbo or something, don't put that money in the stock market. Most places like Ameritrade require a $2,000 minimum to open an account. For someone who isn't very familiar with the market, and who doesn't have the time or energy to watch it constantly (basically everyone except for mutual fund managers and day traders), your best bet would be to put the money into a mutual fund. That's basically a pile of diverse stocks from several different companies, covering a few different industries. The good fund managers will do thier research and pick companies that have good potential to grow, as well as pick a few cornerstones of the market, that will not fluctuate as much. One thing to remember, is that it's temting to put money in and try to make a quick buck. And that is entirely possible, but your biggest gains will come from the long term investments. 5 or more years. What I would do if I was you, is to do some research on money management. There's about 5 billion books you can find on the subject. Once you know a little more about the market place and how it works, your potential gains and losses, you will feel much more comfortable about the decisions you make. One thing to keep in mind is to not go off of something you hear on the news, or read on the internet. Do your own research, and decide what's best for you. Personally, if I was in your shoes, I would open up an IRA. I've said it before, and I'll say it again. The best time to put money into a retirement account is when you're young. I know it;s not as glamorous as making $5 million in 2 weeks in the market, but come on. That never really happens. Here in the real world, your best bet is to plan for long term investing. Saving even a few hundred dollars (or more... whatever you can put in) will pay huge dividends in 35-40 years. You could buy a new turbo now, or you could buy a new car when you retire. Yes, it really does make that much of a difference. Don't get me wrong, I'm not telling you not to play in the stock market, but the most important thing is to research your options, and decide what is best for you.