21 yr. old, where can I find good info for learning about investing money?
Tuesday, December 24, 2013
, Posted by Ryanita at 12:59 AM
devp444
I'm just looking for a good website or book to educate myself on investing money, something simple like a dummies guide or a beginners book.
Answer
Congratulations on attempting to learn investing at such an early age.
Let me share with you a little rule that Albert Einstein once claimed was "the greatest mathmatical discovery of all time". It is called the Rule of 72. It is pretty simple...
If you take an interest rate and divide it into 72 you get the number of years it will take your money to double.
For example, lets say you have $40K to invest if you were to get an interest rate of 12% your money would double every 6 years. So your 40K would turn into 80K in 6 years, 160K in 12 years......and $1,280,000 in 30 years.
Keep this rule in mind as you make your investment decisions and you will do quite well.
As to what areas to invest in. The stock market has done quite well for the past couple of years and mutual funds allow you to diversify your portfolio. Personally, I have been having the greatest amount of fun and success in the foreign currency market.....Forex.
What is really nice about Forex is that you can open a practice account while you are learning and not risk any of your money.
In fact I am assembling another Trading Team to evaluate some Forex trading strategies. You would be most welcome to join the team and learn along with us. Just drop me a line if interested.
Best wishes for a prosperous 2007!
Paul
http://www.teampip.com
Congratulations on attempting to learn investing at such an early age.
Let me share with you a little rule that Albert Einstein once claimed was "the greatest mathmatical discovery of all time". It is called the Rule of 72. It is pretty simple...
If you take an interest rate and divide it into 72 you get the number of years it will take your money to double.
For example, lets say you have $40K to invest if you were to get an interest rate of 12% your money would double every 6 years. So your 40K would turn into 80K in 6 years, 160K in 12 years......and $1,280,000 in 30 years.
Keep this rule in mind as you make your investment decisions and you will do quite well.
As to what areas to invest in. The stock market has done quite well for the past couple of years and mutual funds allow you to diversify your portfolio. Personally, I have been having the greatest amount of fun and success in the foreign currency market.....Forex.
What is really nice about Forex is that you can open a practice account while you are learning and not risk any of your money.
In fact I am assembling another Trading Team to evaluate some Forex trading strategies. You would be most welcome to join the team and learn along with us. Just drop me a line if interested.
Best wishes for a prosperous 2007!
Paul
http://www.teampip.com
where to start to learn about share markets and investing?
Dharani Ve
in Google lots of information are available but i need to learn clearly and from basic and in a simple way!!
Answer
First you should determine if you prefer investing like a trader selling and buying everyday on technical indicators (charts....)
Or if you are ready to invest for medium/long term.
For a beginner, investing for dummies is a good start.
Relying of internet information can be overwhelming and internet is full of scam (forex, penny stocks...)
Investopedia is a good site to learn the basics and the different terms.
First you should determine if you prefer investing like a trader selling and buying everyday on technical indicators (charts....)
Or if you are ready to invest for medium/long term.
For a beginner, investing for dummies is a good start.
Relying of internet information can be overwhelming and internet is full of scam (forex, penny stocks...)
Investopedia is a good site to learn the basics and the different terms.
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