Investing for beginners

[/pine]

Can anyone recommend the best way to start investing for beginners? For example, opening an account with TD Ameritrade or Fidelity? Broad topic I know, just would like someplace to start. Thanks!

Based on the above...I assume by investing you mean in the securities markets and not specifically art or real estate etc...?

If this is true the major online brokers offer as good information as anyone...if you need a little hand holding to start look at Schwab...

There are a lot of good books out there read all you can and discern...If you want to do your own "DD" (Due Diligence) subscribe to a service and learn how to search (and use 'Find') SEC documents...Edgar and Nexus are worthy...

Subscribe to a news service business feeds are well worth the subscriptions...

The most important thing you will ever hear about the stock market is individual stocks are news driven and that is the bottom line...do not fall for what is called "technical analysis"...it's pure BS...good news raises stocks, bad news lowers stocks, no news static stocks...

Look at the top mutual funds (and learn how to research them) if you do not have the fortitude for the risk of free wheeling it...

Believe in the terms: "buy low-sell high"( a long position) and "sell high-buy low"(a short position)...Both can make you money...learn to discern...!

Good luck and always remember...It's easy to make a small fortune in the markets....if you start with a large fortune...!

 

[Racenut]

I'm not an expert at all, so I'm sure I'm going to be missing many of the fantastic buying opportunities we're about to have.

 

[Fuddy1952]

You don't have to be expert. Lots of good advice here, and (Here's where I'll get eviscerated) don't day trade. Mutual funds are the way since comprised of many stocks/bonds.
Call T.Rowe, Vanguard, Fidelity, Janus, etc., talk to them (free), they'll send info (free).
So many factors...age, goals, 100 factors.

 

[RNeumann]

I'm not an expert at all, so I'm sure I'm going to be missing many of the fantastic buying opportunities we're about to have.

Amen!!!

 

[General Lee]

Thanks all. I'm 42. I already pay into a govt' retirement plan. I can get a 401k, 457 etc and should have a long time ago but needed the money elsewhere. My employer won't match any funds due the govt' plan already. I'm looking to maximise any funds within 10-15 years. Preferably 10.

 

[RickB]

I have been a well satisfied Schwab customer for over 20 years. They will provide as much or little guidance as you need.

Pay strict attention to the current volatility. There will be tremendous opportunities for those who are prepared.

 

[jeff9366]

Thanks all. I'm 42. I already pay into a govt' retirement plan. I can get a 401k, 457 etc and should have a long time ago but needed the money elsewhere. My employer won't match any funds due the govt' plan already. I'm looking to maximise any funds within 10-15 years. Preferably 10.

This is not very clear. Are you a government employee?

If you are eligible for a government inflation adjusted pension, consider a traditional IRA, rather a 401(k) or 457, whatever a 457 is.

In retirement my tax bracket is much lower than during my working years. So my traditional IRAs, established before 401(k) came into existence, have had a better after tax return than I expected. The only part I do not like are the mandatory withdrawals after age 70 1/2. I have to withdraw somewhat more tax defered dollars every year from IRAs than my living and recreation expenses require.

 

[RNeumann]

Thanks all. I'm 42. I already pay into a govt' retirement plan. I can get a 401k, 457 etc and should have a long time ago but needed the money elsewhere. My employer won't match any funds due the govt' plan already. I'm looking to maximise any funds within 10-15 years. Preferably 10.

If you have a gov pension and have access to the 457, that’s the way to go. With retirement only 10 years away it sounds like you have a safety position like a cop or firefighter. You will need a plan for lowering costs and increasing the savings. So to get the costs down you need to get out of debt- no car loans and the house is paid off. Until everything but the house is paid off focus on that. Then you can pour the coals on that 457. The 457 is something you’ve heard called “deferred compensation”. It’s actually that- meaning you will have access to the funds when you separate from your employer. No waiting until you are 62 or later like a 401k or IRA.
We are on similar paths. I’m 45, wife is 36 and I too have a safety pension. I also have a 457. It was about 9 years ago when I discovered Dave Ramsey. We are a success story! With 10 years, some focus, and a lot of hard work you can retire and afford to be very generous!

 

[Streetcar]

457 is government employee version of 401

 

[General Lee]

This is not very clear. Are you a government employee?

Yes a county govt' employee.

I appreciate all the advice from everyone. I will be researching all the options given. I sure am kicking myself for not starting a 457