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Do anyone know the first thing about purchasing stocks?

I'm just a bit curious about the stock market. Is this something I can do on my own?

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dubewife

Asked by dubewife at 12:29 AM on Mar. 10, 2011 in Money & Work

Level 17 (4,588 Credits)
Answers (9)
  • You can go through your bank usually. That's what we did and they told us about a company called folio investing. You can buy the stocks yourself and cash them out if you need to. Good Luck!
    ss1436

    Answer by ss1436 at 12:47 AM on Mar. 10, 2011

  • Yeah- DON'T.

    Single stocks are super risky. I'd recommend buying a mutual fund instead- which is basically a piece of thousands of different stocks. So instead of owning one stock- you might own .001% of 1000 different companies.

    You can buy them online, or you can go in person to somewhere like Edward Jones Investments. Look it up online or google it.
    Erica_Smerica

    Answer by Erica_Smerica at 12:50 AM on Mar. 10, 2011

  • you can also go to google and do reasearch before u approach someone, so then you don't really have to worry too much about scamming u and then u also will be able to ask better questions.
    Michigan-Mom74

    Answer by Michigan-Mom74 at 1:18 AM on Mar. 10, 2011

  • I'd talk to someone who knew what they are doing.. I'm a ditz when it comes to stocks and made my dad help me out even for simple things like 401k's, lol.
    xxhazeldovexx

    Answer by xxhazeldovexx at 1:29 AM on Mar. 10, 2011

  • You need to educate yourself. Go to the library, and read the Wall Street Journal every day. Watch the financial news channels. Start charting before you start to buy.
    My nephew started trading on his own at 14, and has averaged an annual return of 15% over the last ten years.
    rkoloms

    Answer by rkoloms at 5:54 AM on Mar. 10, 2011

  • And sign up for the Motley Fool:http://www.fool.com/

    rkoloms

    Answer by rkoloms at 5:55 AM on Mar. 10, 2011

  • I would make some calls to your bank and some investment companies like TDAmeritrade and get all the info you can!! I was going to try the stock market but they have you put "X" amount of money in what they called your Investment acct and I did not have the money they were asking for. Another person you might talk to is your attorney. They use the stockmarket and may be able to give you some good hints on what to do!!! Hope this helps
    jesussaves58

    Answer by jesussaves58 at 7:15 AM on Mar. 10, 2011

  • Are you talking of buying and selling stocks outright or as part of a 401(k) plan? If you buy and sell outright, you need to be aware of tax consequences. For instance, if you buy stock in one company that totals $1,000 and sell it somewhere down the line for $1,200, you've just earned $2,000 and that is taxable to you. This is true for every stock in every company you buy.

    If part of a 401(k) plan, you can buy and sell without any thought to tax consequences because you can't touch that money until you are of a specific age. However, you will pay transactions fees.

    Unless you really know what you are doing and understand the market, a mutual fund may be a better/safer option for you.
    Anonymous

    Answer by Anonymous at 7:50 AM on Mar. 10, 2011

  • Sorry, you've earned "$200" ...
    Anonymous

    Answer by Anonymous at 7:50 AM on Mar. 10, 2011

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