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  • oshei94 oshei94 Feb 4, 2013 1:42 PM Flag

    First time need a little help

    I actually looked into it my hometown has one over the summer that I am going to take. I also do have a job bar tending and bouncing just havent started a 401k yet

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    • Mr Phil gave good advice on the investing course.
      Getting into individual stocks is the best thing you can do. It will stimulate your interest more than a fund by getting you to look at companies as an analyst should, though many analysts have made up their minds before they look.
      Good luck and skill.

      • 3 Replies to slegermark
      • Great advice from the experience and talent represented on this board. I dont post much, just when there might be something useful to pass along. I too took a finance/economics course in college in 1981. I piqued my interest, but not enough to start investing, I suppose I figured at that time, since I was determined to do a 20 yr career in the USARMY, that I didnt need to invest because they would provide my pension. Well, 15 or so years later, I saw the flaw in that thinking and began trading and investing in 1996. It was really only a hobby of sorts til about 2005, then I got really serious. I have read dozens of trading books over the years, but only a few have actually resonated by getting me serious and interested and changed my way of thinking. One book in particular, 'Trade your way to Financial Freedom' by Dr Van Tharp, it essentially changed the game for me. And for those who follow Dr Tharp, he has a new book soon to be released in mid FEB called 'Trading beyond the Matrix: The Red Pill for Traders and Investors' that will probably top them all as it will delve in the self transformation of the person in regard to their trading beliefs and concepts. If you are interested, like to read and got a few minutes, check it out on Amazon.

        Also, thanks again to all on this board for sharing your time, knowledge and advice. It cant be said enough...Its much appreciated!!

      • Was your first investment into the stock market in individual stocks? How old were you?
        Just curious, not judging.

      • Sleger, 'Trade your way to Financial Freedom' is not the precursor to the new book. They both stand on there own. I got a lot out of 'Trade your way to Financial Freedom' as it focused on trading systems based on the trader's beliefs. The new book seems to expand on that idea as I have read the write-up on Van Tharp's FB page. Hope that answers your question.

    • The college cource will get you started. It will probably taught by a investment consultant from a investment firm. It will break the ice and give you a some basis to start learning. There will be a bunch of old retired people in the class that know little more than you.

    • You should not be buying individual stocks you should buy mutual funds.
      Got to Fidelity's website and start reading. That's where I started when I was 22.
      Buy a fund based on your risk tolerance at first.
      As you learn about the economy you can buy and sell sector funds.
      You won't get rich quick but you will probably outperform the zero% you are getting in the bank.

    • Just in case you make some real money in the future and you want a different view , you might think Depardieu.....lucky for my father and i we were 30 years ahead on the concept.
      401k is like jail for life , replace that by "offshore" , if you feel guilty, DONATE!

      • 2 Replies to arwen_imaginary
      • It might seem like jail if you are in your 20's.
        I always contributed to my IRA and the my 401k when offered.
        I will be 54 this year and 59.5 is now in reach. I am glad I contributed to these plans.
        I have a substantial amount of money in these accounts for my retirement.
        PS
        Prepaying on my mortgage every month also felt like throwing money at something I would never have. by the time I was 40 the mortgage balance was so small that I was able to pay it off with my lif's savings. I have been debt free since then.
        It doesn't suck.

      • Sorry for being so uniformed, but what does "Depardieu" mean? French actor? Drunken scooter driving?

        Do you know a place to read/learn about offshore?

        Thanks,

    • I suggest you save your money the best you can. Don't spent too much drinking but have fun and save time for homework. Save 10% of every dollar you make from now on and use that money to begin saving and investing. Learn as much as you can every day. Don't take college for granted, enjoy it, learn, expand your horizons, try new things(not drugs), and be safe. I suggust you put your money into a S&P fund and possibly buy a few individual stocks. This is a good player here but be careful. Buy low sell high. Good Luck

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