I'm a beginner and I joined to learn more about investing. How much money do you suggest someone have saved before they start investing?
Wouldn't you rather know what a good investment is? How to find one? Once you do know, I guess it's just pouring gasoline on the burning fire... (I'm also a newbie, so I might just be talking out of my ass here) But there's no logic in approaching an investment like that... Who cares how much you invest, if you invest blindly... That's betting dude.
I'd say open up an account even if you only have a couple hundred bucks or so. The keys are to add to it as much as possible and not invest it foolishly - a diversified portfolio of quality investments will compound over time with minimal risk of permanent losses.
That's some very solid advice. I've been seeing a lot of advice on here that has to do with spreading your wealth over many different quality investments. However, would a couple hundred bucks equal out to making more of those investments? Or would you just put more into each? This seems like a lot of money to me to start out with investing. Especially if you are a beginner like me. I would be afraid to lose most of it until I had made some cheaper plays to gain experience before moving up into that kind of money. Also, do you know what the minimal amount you could open an account with to start?
I'm a financial advisor here in my country and a good investment comes with a good insurance. You can invest in stocks at the same time you protect your life with insurance. I think that's a good way to start investing.
I agree, first we need to find the right investment and than put money in it. On the other hand, investments are good for a certain period of time, if we don't have the money in that time it can stop being a good investment.
You can start pretty low if the stock goes up a lot! My first purchase was $600 and ended up making $72 off the trade in 2 months. It's risky, but you can also open a margin account to triple the amount you can invest. But this should only be done on short term trades since the interest is very high.
