investing some money...

[squeak9798 5,000+ posts]

They typically have a minimum deposit greater than 400. It is usually lower if the person is in school.

And the lower the $$ in the account, the lower the interest. At my bank, the MM rate for anything under $2k isn't any higher than the standard savings account rate.

 

[jujumantb 10+ year member]

your wrong u just have to know how to trade in the short run. A mutual fund can make you like 3% a year which isnt going to make you milleons but trading options and stocks in the shortrun even though its more risky can make you millions. But you have to know how to do it. I would suggest watching cnbc and look out for a stock that is on the rise and buy it but if it starts to go back down get out and invest in another one.

And I'm sure you know how to trade in the short run? Do whatever mad mike tells you too on TV? A well handled mutual fund can pull in much more than 3%.

Of course you can lucky and make millions, there are a handful of daytraders out there who make a risky living doing it, but why would you ever recommend that to the thread starter? Unless you are a pro, you have VERY little shot at making any good money off daytrading.. I could go play highstakes blackjack at the casino and make millions too, chances are I wouldn't though.

 

[MikeofTulsa Moderator]

They typically have a minimum deposit greater than 400. It is usually lower if the person is in school.
Also, you may want to look into some of the pre-tax education products. I think it is called a cordell education plan, where you put pre-tax funds into the accont. 4.3% ain't bad for guarenteed money I suppose.

generally the deposite is higher than 400 but i have found some that dont have a minimum deposit

4.3 is good since its compounded monthly and it wont be touched for nearly 16 years

 

[fakename 10+ year member]

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[PESteele 10+ year member]

And I'm sure you know how to trade in the short run? Do whatever mad mike tells you too on TV? A well handled mutual fund can pull in much more than 3%.Of course you can lucky and make millions, there are a handful of daytraders out there who make a risky living doing it, but why would you ever recommend that to the thread starter? Unless you are a pro, you have VERY little shot at making any good money off daytrading.. I could go play highstakes blackjack at the casino and make millions too, chances are I wouldn't though.

im not talking about daytrading and i do know how to do it so shove it. But you have to invesst alot of time doing so and learning about it.

 

[jujumantb 10+ year member]

im not talking about daytrading and i do know how to do it so shove it. But you have to invesst alot of time doing so and learning about it.

You're 16, 17 years old? People study the market their entire life and still have troubles with it.

 

[PESteele 10+ year member]

what does my age mattter i bet i know a shitload more than u do

 

[PESteele 10+ year member]

panls optimal time would have been to get in this morning. Its probably gunna go up a little more then drop down a little but dont trust me cause im only 16

 

[lastcall 10+ year member]

my parents invested $10,000 in a real estate company in north carolina that was just starting about 5 years ago, and just now getting $4,000 back a month from that. took a while but came out a winner in the long run

 

[mattmcss 10+ year member]

I've been wanting to start investing my money too, now this comes up, i had no idea about the money market savings account, i just saw that my bank offers them , seems to be a fool proof way of getting a decent return on your money.

 

[baseballer1100 5,000+ posts]

PTIE or Brown foreman went up big time today.

 

[THUNDERBIRD 10+ year member]

If anyone knew that they would be rich.DONT invest in the short run! Put your money into a mutual fund or simply the dow/nasdaq and forget about it for 30 years!

thats what my parents started when i was born and now i have alot of money which is supposed to be for college but i am not gonna touch it and just let it sit. i took money out of it this year to pay my credit card off and i got chewed out by my parents and my uncle who's my stock broker. but good luckon trying to make money quick

 

[THUNDERBIRD 10+ year member]

I've been wanting to start investing my money too, now this comes up, i had no idea about the money market savings account, i just saw that my bank offers them , seems to be a fool proof way of getting a decent return on your money.

ur best bet is to figure out how much u want to invest and go and talk to a stock broker. i am sure u know someone who is or ur parents do or friends do. go to a good broker and they will advise u. mutual funds are good.

 

[iLL-Faded 10+ year member]

just reccomend some books to read and you guys are set.

 

[PESteele 10+ year member]

lets put it this way for whoever neged me investing in in mutual funds is like haveing shitty stock speakers and trading the stock market is like having a pair of really nice 3way components. The stock speaker are no work and installing a pair of 3 way comps good it pretty hard but u get alot better reward