Quote:
Originally Posted by skim7x
Hey guys... I'm starting to accumulate some money through a side job I have and I want to start getting into investing. Do any of you have any experience/advice you could give me about investing in the stock market?
1) What are some safer stocks to go with? Index 500?
2) Who do you trade through? or do you do it yourself through some site?
3) Where do you get your 'information' (I'd suspect you need to be on top of a company's policies and recent decisions in order to determine if they are worth investing in...)
4) Where can I learn more about trading? There isn't a http://www.stockmarketpost.com is there?  (ok i just checked, there IS... but if you have a site that is somewhat more helpful than stockmarketpost.com, I'd appreciate it) |
Hey skim!!! I assume that you are self-employed on the side. Correct?? You should start by opening a SEP IRA. Since you are self-employed on the side, government allows you to legally save up to a 100% or $42,000 a year whichever is less. It is tax deductible so you have a tax advantage right there. I would start with some investing in some good Mutual Funds since you are a beginner. You can't invest on your own unless you become more familiar with the market. So put some money aside on Mutual funds and also you might want to look for a very reputable investment advisor in which you can get a separate cash account to put some money on stocks as well as ETF's. Thats what i do. I have an IRA which is invested in Mutual funds and also I have 3 separate cash accounts in which one is invested in Mutual Funds, the other in Stocks and ETF's. I only use one of them to trade stock for my own portfolio. Another account I have an Investment Advisor manage it. The others, I just watch it periodically for growth prospects in the long-term.
I have accounts with TD Ameritrade, Primerica Shareholder Dervices, and the one I trade on my own is Optionsxpress. I use stocks charts and screener software to help me determine trades because I understand how to read the charts and analyze the technicals of the stocks that help get signals when to buy and when to sell. Well hope the helps. Lots of luck.
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