Like many other fields, a lot of what you see on the internet or even in books is actually worthless opinion or ploys, and the first thing you must do is NOT rely on anything that comes from less than the most legitimate sources. Otherwise you pile trash on your table that prevents you from seeing what you need to know.
Stocks are a great way to make money. If you are skilled, it's not gambling, but there is always risk. If you are not skilled, it is gambling and the odds are against you. So- become skilled, and be careful while you are learning so that you don't take risks you don't understand.
Investopedia.com is a very good place to learn all the terminology and mechanics of investing. Some things are straight forward, some are not. Buying or selling is a simple mechanical process. Being able to do the research that tells you what and when to buy or sell requires a honed skill, but that is what controls success and must be mastered.
There are many good books on investing- as well as many bad ones. Look to the masters, not the arm-chair experts. Start with "The Intelligent Investor" by Benjamin Graham. This is an old book, but the best. Graham was in effect Buffett's mentor. Pay particular attention to the part about "Mr Market", because if you do not understand that, you will never understand investing. It's probably the most valuable thing you need to know to do well.
Long-term security would call for a Roth IRA to begin with. While you are limited to the amount you can contribute each year on IRA's, there are no taxes on the gains you make in a Roth, and over a lifetime that amount to a great deal of benefits.
In addition to the IRA, I suggest a conventional trading account that starts with very reliable stocks- things that are solid and grow reliably. These will not sky-rocket in growth, but well chosen ones will keep the wealth building while you learn about the market. When you get to the point where you have money you feel you can put at risk, you may try stocks with higher risk and potential.
Personally, when I research and assess a stock, I always consider those two factors, risk and potential. In terms of risk, I want to be able to know the probability of loss, and the extent of possible loss. I look at potential the same way- what is the probability of gains, and the extents of them. I invest when the risk is low and the potential is high, meaning the odds are strongly in my favor.
Investing is somewhat like having a clone of yourself, out there working for you 24/7 for free. I'm a senior, semi-retired. If I reach the point where I can no longer produce income directly, my invested money continues to work for me. Investing has made me more than independent, it's made me fairly wealthy. My dividend income alone exceeds my social security, and I don't particularly seek out dividend stocks. The earlier in life you start, the better.
Firstly- Do you know anything about stock market ?, If Yes- Then you need to find a stock which is undervalued or you feel this is going to grow in future. Aiming for stocks that actually have a long growth potential are a better bet than aiming for quick money. You need to do a lot of research on what stock you think has the potential to grow a lot and will probably make you lots of money.
Eg- There is a company (Figure it out) which is into natural gas/oil etc. They actually found a lot of hidden oil on an area which the govt. thought was just good enough for forest sanctuary. Now, you can imagine if they do start digging in , what all can happen to its stock (which is really low now).
This company is the centre of attention amongst many investors .
Now to give you another option of having financial independence :: Stay single!
Marriage and children are just too financially draining and one is better off without having either of them in life. That is what i will be doing with my life, the choice is yours
How does Trading Work? I can say you that take a look at this site ( http://forexsignal.kyma.info ) may be it can help you. It 's one of the best course about trading. It seems like Trading is almost totally based on Macro-economics. It also strikes me that since there are not nearly as many currencies as there are stocks/bonds/derivatives etc etc, there must be a large number of market players in each currency bracket. So logically, currencies must be very liquid true? Also, what is the risk of Currency trading, high or low? When I read the business section every day I notice that the Canadian loonie moves hardly a tenth of a cent on a regular basis (in comparison to the US dollar). So it seems like theres very little room for growth in currencies unless you leverage. On that note, whats the maximum leverage permitted for forex trading. I know in stocks its x2, and in derivatives its x10. Anyway the only way to know how to start a profitable buisness is by following some methods like the one that I suggested.
It's really possible to make money with trading online, specially with binary trading. You have just to know where to learn... and I know the best source ( http://forexsignal.kyma.info ) This course explain everything you need to start a very profitable trading activity. Before you "learn" to day trade you first must understand the markets, the products traded in the markets and the rules you have to follow to be in the market. You have to learn what to do, why to do it, when to do it and how to do it. If can learn all of this then and only then can you day trade. Before you day trade you must be able to trade. You also need a written sound trading/investment plan with rules that will not only help you but more importantly protect you, mostly from yourself. You also need sufficient trading/investment capital. Use your own money, there’s no need to go into debt so that you can trade/invest. It is more imperative to have a written money management program in place. Remember never invest 100% of your capital into any one security and never have 100% of your capital invested and a good understanding of the rules
On this site you find all the details about my favourite binary trading software http://tradingsignal.toptips.org
I like it because it's very easy to use: NO complex charts… NO baffling analysis... NO complicated methods... in fact nothing to learn at all! Check the site... (the proof videos are interesting)
My son's strategy is to graduate uni, get decent job and live happy life.
If you don't to go this way, buy undervalued stock low, sell it high and live happy life as well.
Good luck
I have been researching financial independence and investing for a few months now and I’m a bit overwhelmed with all of the information out there. I have been looking at blogs like Dividend mantra, Dividend monk, Mr Money Mustache and these sites have introduced me to investing strategies like dividend growth investing and index investing. I would just like to know out of these or if there are any others that are the best for achieving financial independence within 10 years, I have read that dividend growth investing is too slow if you don’t have a large sum of money to invest but I’m not sure if that’s true or not. Also it seems like the people who run these blogs are only focusing on how much only they spend and aiming for an income goal based on that, but for someone like me who wants to start a family I won’t be able to have my investments just pay my expenses. So I mean really I’m looking for the best investing strategy that will be able to pay me enough annual income to support me and my future family within 10 years. I’m 19 at the moment and looking to reach financial independence by the age of 30 (under 30 would be great if I could achieve that) as I feel that 30 is the right time to start a family and I don’t want to rely on a job to support them.
If anyone who’s aiming for financial independence or has already achieved it could shed some light on this I would really appreciate it.
