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Thread: Newbie to Stock Market and Investing

  1. #1
    So I posted on the Open Forum regarding investment ideas and I thought I'd post here as well. As I mentioned before, I am in my mid-twenties and just began my career and essentially my 'professional life'. I have a little over 10,000 saved up for a house. As for investments, I don't have none! I have my pension that just started since I am a public educator but other than that I don't have much capital.

    My question is this: What can I do now in order to be secure as I get older?

    How do I go about letting my money work for me?

    All advice is welcomed! I know some of you out there have tremendous life experience and can give me a head start with investing, saving, etc. I know I don't have a lot of 'extra' money lying around but it is something and at least a start.

  2. #2
    I am not an investment adviser or a financial professional but in all of my years of reporting on this subject most pros give this advice:

    1. Pay down your debt first. If you carry a balance on a credit card and the interest rate is 18%, you will immediately get an 18% return on your money if you pay down the debt.
    2. Have six months of cash reserves in the bank to cover bills in case of a problem.
    3. Use company or employer investment plans that have a "match" or a discount, if available.

    After that, your first step should be with broad-based mutual funds that match something like the S&P 500 Index. Try to use a "no load" fund which means there are no commissions.
    It's all about quitting when ahead.

  3. #3
    Thanks Alan,

    I am completely new to the adult world and don't really know where to begin, if that makes sense? As for the steps:

    1. I don't have any credit card debt, I do have students loans. I should pay that off before I invest correct?
    2. 6 months of cash reserve sounds achievable within the year
    3. I have begun doing this through the school district

    In terms of saving for a house, do you just put money away each month 'till you have a down payment ready??

  4. #4
    You seem like an intelligent guy. Avoid stock brokers and big brokerage houses. Do a little research and invest in growth stocks or funds. Definitely pay all credit card debt etc. When paying bills, you should always pay yourself first (50-50), and then try to invest as much of that as is possible.

    And avoid those negative VP games--lol

  5. #5
    Hi preet, I am not clear by what you mean by a "share market"? Is that what we commonly called the stock market -- the selling of shares??
    It's all about quitting when ahead.

  6. #6
    Thanks dear for sharing this beautiful and helpful post. I will keep in my mind these tips. I hope these will help me and give me benefits in my future.

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