Do You Invest?

Discussion in 'Community Discussion' started by HappyDude20, Feb 4, 2011.

  1. HappyDude20 macrumors 68020

    HappyDude20

    Joined:
    Jul 13, 2008
    Location:
    Los Angeles, Ca
    #1
    I recently closed my Chase account in lieu of a Charles Schwab account.

    I really like the incredible array of tools presented to me on their site when logged on, however in all honesty I have no idea what i'm doing.

    I see I can do ETFs, Mutual Bonds, Stocks, etc.

    I'd like to learn my way around investing, though in complete honesty, am a total novice at it.

    I'm sure i'm not the only one on the MR forums who is oblivious to investing, as i'm also sure there are numerous people in here who do in fact know their way around investing.

    If anyone has any advice, or even guidance towards the right direction in helping me commence my research in this area, i'd truly appreciate it.

    For a second I was even thinking about picking up one of those "Investing for Dummies" books, but lol, I think there are better books out there. .. . . . . . . .... . . .like I said, complete novice.
     
  2. mgguy macrumors 6502

    mgguy

    Joined:
    Dec 26, 2006
  3. EazyWeazy3 macrumors 6502

    Joined:
    Jul 13, 2008
  4. ucfgrad93 macrumors P6

    ucfgrad93

    Joined:
    Aug 17, 2007
    Location:
    Colorado
  5. HappyDude20 thread starter macrumors 68020

    HappyDude20

    Joined:
    Jul 13, 2008
    Location:
    Los Angeles, Ca
    #5
    I'm assuming you went into this with a prior knowledge of investing?

    ..See, I simply got my Charles Schwab account to get away from Chase Banking; but have noticed the ridiculous amount of tools at my disposal, something that Chase really lacked.
     
  6. rhett7660 macrumors G4

    rhett7660

    Joined:
    Jan 9, 2008
    Location:
    Sunny, Southern California
    #6
    Are you asking how to use the tools or are you trying to figure out what the tools are telling you and how to use that information to make informed decisions?
     
  7. NickZac macrumors 68000

    NickZac

    Joined:
    Dec 11, 2010
    #7
    Most of my friends are all business majors and many have the famous MBA (not a MacBook Air) and so I let them do that stuff for me...they may be better investors but I have a much more exciting careers. We also have investment options with the Federal Government but I've never really explored it much. :p
     
  8. ucfgrad93 macrumors P6

    ucfgrad93

    Joined:
    Aug 17, 2007
    Location:
    Colorado
    #8
    Yes, I had prior knowledge about investing. I have an IRA there. It's value has increased 50% in the past 4 years.
     
  9. HappyDude20 thread starter macrumors 68020

    HappyDude20

    Joined:
    Jul 13, 2008
    Location:
    Los Angeles, Ca
    #9
    I think I'm seeking for like, reputable books or websites to help me understand what all these things are.. I know of stocks, bonds, mutual funds...but I don't know how it all works.

    I'd think it be dumb if I was to buy stock with my Schwab account without knowing the risks or anything about it.
     
  10. rhett7660 macrumors G4

    rhett7660

    Joined:
    Jan 9, 2008
    Location:
    Sunny, Southern California
    #10
    I like the Motley Fool series of books. I don't have the name off the top of my head but they have a book, which is basically for new investors on what to look for, what the numbers mean etc. They also have a website but to get to most of the content you have to pay. Booo.

    I would search MSN.com money section they might have some beginners articles and if all else fails head down to your local BN/Borders store and look through the plethora of books about investing. There is bound to be one for beginners that will walk you step by step on what you are looking at etc. Sorry I don't have any off the top of my head that I can recommend that I have used with in the past year or so.

    I do read the Motley Fool / WSJ.com Business Section / MSN Money.
     
  11. miles01110, Feb 5, 2011
    Last edited: Feb 5, 2011

    miles01110 macrumors Core

    miles01110

    Joined:
    Jul 24, 2006
    Location:
    The Ivory Tower (I'm not coming down)
    #11
    Check out the GetRichSlowly blog; http://www.getrichslowly.org/blog/ and search for whatever topic you're interested in that day. The guy who writes it has covered pretty much everything multiple times. The Motley Fool series is pretty good also.

    A word to the wise- day trading in individual stocks is not a good idea unless you can and are willing to devote significant time to research. The odds of you beating the market average over the long run are almost zero.

    Edit: The Mint.com blog also has a lot of good information for people just starting out. http://www.mint.com/blog/
     
  12. iJohnHenry macrumors P6

    iJohnHenry

    Joined:
    Mar 22, 2008
    Location:
    On tenterhooks
  13. QuarterSwede macrumors G3

    QuarterSwede

    Joined:
    Oct 1, 2005
    Location:
    Colorado Springs, CO
    #13
    I invest but only in long term (ex-pension & 401k) IRA's. My financial advisor pretty much manages it. It's increased quite a bit in a few years.
     

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