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Does any one buy and sell stocks?

If so, how do you do it? Do you do it yourself or does someone do it for you, and how much money do you have to start with?

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jaceyrayesmom

Asked by jaceyrayesmom at 10:35 AM on Oct. 10, 2008 in Money & Work

Level 16 (2,848 Credits)
Answers (4)
  • If you really have not a clue then talk to a financial advisor. It may be good to get in now while the prices are low but you need to go into it with an amount of money you're ok with losing. It's a long term investment.
    Steph319

    Answer by Steph319 at 11:19 AM on Oct. 10, 2008

  • Buying single stocks is WAY too risky. But I think right now is an awesome time to invest in mutual funds. Prices are low. It's on sale! Mutual funds have less risk because it's a bunch of companies together. I go through Vanguard. You can find a financial advisor to help you if your just getting started. Beware though of their commision. Ones that make commission on your investments will try to put you in whatever makes them the most money!
    Anonymous

    Answer by Anonymous at 2:09 PM on Oct. 10, 2008

  • If you need to buy and sell stocks on your own, then read up on it, and read a lot. Make sure that you don't put all your eggs in one basket (so to speak.)

    Plus- you don't want to have too much money in stocks as you get closer to retirement. Right now- If you are in your 20's put 90% of your retirement fund in the stock market. When you are in your 30s only put 70%. In your 40s put 50% possibly 60%. When you get into your 50s you should have it down to 50% and you should take out 5% every year until you are 60. Cont. bellow.
    EricaAbbott

    Answer by EricaAbbott at 8:38 AM on Oct. 12, 2008

  • And when I say take out that money- I mean put it in an FDIC savings account or CD. Something that you absolutly will not lose any money on, but still earns interest.

    Make sure you have an emergency stash. Most investment books recommend 1 to 3 months of income and if you are able to have 6 months of income put a way.

    Unless you have money to gamble with, stock markets are not for get rich quick- they are for long term investments.
    EricaAbbott

    Answer by EricaAbbott at 8:38 AM on Oct. 12, 2008

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