| Got 3k, first time investing. |
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bandit290
Member
Cash: $ 2.75
Posts: 13
Joined: 05 Mar 2006
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| Got 3k, first time investing. |
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I'm currently 22 years old and in school/working. I started a 401k last year and looking into high growth mutual funds and then move into stocks/etc.
In the past few months of research I have found most sites advising to only invest in index funds. Also, most comparions rate Scott trade as a good broker to go with. So are there any reasons why I should not go with Scott trade and any other tips that could help me out, because I will be going into the office sometime this week to set it up.
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Sun Mar 05, 2006 3:21 am |
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Jaszbo
Preferred Member
Cash: $ 35.90
Posts: 177
Joined: 03 Jan 2006
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If you are going to invest in a few places then scottrade is not a bad choice. If you like index funds and you want to invest in index funds, then I would go with vanguard. They have one of the lowest expeses in the industry with also the most options in different indices to pick from.
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Sun Mar 05, 2006 6:45 am |
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joseanes
Full Member
Cash: $ 10.20
Posts: 76
Joined: 30 Aug 2005
Location: Marlborough, MA
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Do index funds (like Vanguard 500) until you have a good investment base: 10K, or 20K.
Then invest in stocks.
Not only would you have learned about the market by then, but any upswings or downswings in the market will not upset your stomach that much.
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Thu Mar 09, 2006 3:08 pm |
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JBendar
Senior Member
Cash: $ 49.60
Posts: 271
Joined: 22 Mar 2004
Location: Woodbridge, New Jersey
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| Investing in Stocks |
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bandit:
It takes a long time to really understand the ins and out of the stock market. As Toni Turner puts it in her new book "Mother Market" has control over her children (investors/traders). If you disobey "Mother Market" she will punish you. That is why so many people lose in the market. They don't follow the signs that the market is giving you. In my investment/trading experience of over 20 years, a lot of insight has been picked up. There are two schools of thought - Fundamental and Technical. My inclination is with the technical area. Charts tell a picture of what is happening at the current time, which does not apply to fundamentals. The ideal situation is to have a blend of both fundamental and technical insights to get a true picture.
Good luck with your investing/trading. If you need any pointers, I will do what I can to help you out. Send me a private message and I would be happy to assist you (no cost involved).
JBendar 
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Thu Mar 09, 2006 4:19 pm |
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wormser
First Time Poster
Cash: $ 0.20
Posts: 1
Joined: 11 Mar 2006
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Also remember that you cannot predict the future price of investments, but you can predict how risky they are. The measure of risk with stocks is called the beta or volatility and is a popular variable for stock screeners. If you google "stock screener" some good links come up.
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Sat Mar 11, 2006 11:21 pm |
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Rolo
Yo' Daddy
Cash: $ 309.70
Posts: 1551
Joined: 13 Mar 2005
Location: Colorado/Florida
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| Re: Got 3k, first time investing. |
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Sheesh you guys...talk about rabbit trails!
quote:
Originally posted by bandit290
I'm currently 22 years old and in school/working. I started a 401k last year and looking into high growth mutual funds and then move into stocks/etc.
You have a great plan. Keep educating yourself on the topic, never waiver on your contributions, and always buy quality (stocks, funds, consumer products).
I am not a fan of index funds. If you can do better than index funds, then you have no use for them. If you cannot, then you do!
"Expect me when you see me."
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Sun Mar 12, 2006 6:17 am |
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bandit290
Member
Cash: $ 2.75
Posts: 13
Joined: 05 Mar 2006
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Also is there any benefits to setting up a marginal account over a regular account (Other than the borrowing/etc, that I won't be doing anytime soon)
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Sun Mar 12, 2006 6:59 am |
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Rolo
Yo' Daddy
Cash: $ 309.70
Posts: 1551
Joined: 13 Mar 2005
Location: Colorado/Florida
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RTFQ people!
quote:
Originally posted by bandit290
Also is there any benefits to setting up a marginal account over a regular account (Other than the borrowing/etc, that I won't be doing anytime soon)
You can also short-sell on margin. I would recommend having a margin account even if you have no intention of using it as SOP.
Let's say you wanted an even lot of a stock that cost you $50 more than cash-on-hand...yer stuck. Instead, you can margin the $50 with no worry.
Bottom line: Why limit your options? It may be useful down the road.
"Expect me when you see me."
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Sun Mar 12, 2006 2:54 pm |
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LateraLex
Contributing Member
Cash: $ 5.65
Posts: 28
Joined: 16 Mar 2006
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quote:
Originally posted by Jaszbo
If you are going to invest in a few places then scottrade is not a bad choice. If you like index funds and you want to invest in index funds, then I would go with vanguard. They have one of the lowest expeses in the industry with also the most options in different indices to pick from.
Jaszbo what do you think of Fidelity's S&P fund? The expense seems ridiculously low.
http://personal.fidelity.com/products/funds/mfl_frame.shtml?315912204
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Thu Mar 16, 2006 9:51 pm |
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bandit290
Member
Cash: $ 2.75
Posts: 13
Joined: 05 Mar 2006
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UPDATE:
I went to the local branch today. I asked about fees etc. I was told the only fees scotttrade would charge (no load index funds) would be $17 to buy and $17 to sell. No other fees/comission/etc THATS IT!
Then he showed me the certain percentage fee that the fund would charge me. Like 1.09 percent yearly.
So is that the truth?
Also, the thing about funds charging a percent fee. Would the same fund bought through different brokers charge different percent fee or the same?
Ex.
Fund B bought through scottrade, charges 1% yearly
Fund B bought through fidelity, charges......the same or could it be different?
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Sat Mar 18, 2006 4:31 am |
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