Investing triples your money in a decade.
Gambling triples your money overnight
What are you trying to do? Are you saying you want 18k in 2024?
My suggestion is spend some time, every day, at Yahoo Finance. Read the articles, follow the links and check out the advertisers. In 30 days, with a little effort, you will know more than 90% of the investors out there.
Go to assetbuilders.com and find Couch Potato Portfolio. Vanguard. Fidelity. Motley Fool. Forbes. Wall Street Journal. theStreet. Zacks. and many others - all have free (it is worth what you pay for) info.
Life is pretty simple: Get a good education. Get a good job. Learn to live on less than you earn. Invest wisely. Retire wealthy.
(by the way, penny stocks, options, selling short, tips from your barber are all gambling for most "unsophisticated investors" - and that's you and me. Gambling usually takes all of your money, sooner if not later)
Good Luck!
It starts with self-education. There are loads of books at you local library to teach you (say) "Investing for Dummies" or "The Idiots Guide To The Stockmarket".
There are probably genuine people ready to give advice on investing - but how are you going to know if it's good advice or not, advisors generally have an agenda. Such advice is rarely free.
People think of investing in the stockmarket, which will instantly make them rich. This is not the case - only the experts become rich, the newbies tend to lose every bean and regret their loss. Gain some knowledge of the stock market.
Start reading books, articles, biographies of investors, etc
Look online for videos about investing - but keep your money in your pocket until you judge the time is right.
if you cannot afford to lose some of it don't invest it. I would suggest a long term investmennt like fidelity mutual fund for biotech stocks. look at the chart and the growth for yourself.
Whether you get a broker or not will not affect the outcome, if you don't know what you're doing. Investment advisers, sure, but not brokers.
Chances of losing the money? Extremely high for beginners. And extremely quickly, too (we're talking anywhere from a few days to weeks).
Length of time for a return on investment... On average, if you don't trade, and actually invest, picking some good blue chip companies and holding for a month or two should yield 5~10% stable return.
Start off yourself. Look up what blue chip companies are, and find yourself a few good ones. Look on the company's yearly charts to see if they're increasing consistently.
Buy a reasonable number of shares (calculate the approximate return you think you'll get after a month), and just don't close your position until a month later, or more.
you're still in school? don't risk that money
(a strong opinion)
focus your time on school and your part time job,,,
(that keeps you busy enough)
I am interested in investing some money in stocks and shares and would like to know where to start?
Is it a better idea to start it off yourself or get a broker? Is there benefit to one over the other longterm? Maybe to make better decisions?
I have about 6k which I can put towards investing. What are the chances of losing the money? And how long does it generally take to get something back? I plan of investing regular as I save more money.
Any advice would be appreciated.
