Beginning Investing

[mystkev]

How many of us are investing? If u are investing maybe u can share some tips to help beginning investors. I read somewhere "let your money work hard for you, don't work hard for your money" or something like that. If you think you do not have the money, think again, there are many mutual funds companies that have Automatic Investment Programs that you can start out w/just $50 a month. Ariel Mutual Funds (http://www.arielmutualfunds.com) is one of those companies. Order a prospectus for more info.

Some sites that I have found useful are:

Motley Fool (http://www.motleyfool.com)

Black Enterprise (http://www.blackenterprise.com): Order the Wealth Building Kit it is free and has great information.

A good book to read is Investing for Dummies by Eric Tyson it covers all the basics.

What I have learned is that the most important part of investing is research, research, research. Learn the basics first before trying to invest.

Does anyone else have any more website recommendations?

[14KBlaqWmn]

I don't get into the investment thing. Reason being that it's too risky. Not to mention that with the retirement type investment plans, there is no guarantee that those funds will be there when you're ready to bounce. Sure they have stuff in writing now, but there's always the fine print plus companies always seem to find loopholes when it comes to paying you your money. So, I do my own thing to ensure that I when I'm ready for my money, I know where it's at and how much it will be, and I don't have to pay anyone a fee for taking out my money. I don't play when it comes to the funds.

[que90nek]

oh.

my.

goodness.


most roth ira's are no more risky than your savings account at your bank. i recommend this as a minimum...so when u do get older u don't have to continue working.

a serious problem with black folks...(well...not problem)...how do WE get past the mistrust?

[mystkev]

Originally posted by 14KBlaqWmn+
I don't get into the investment thing. Reason being that it's too risky. Not to mention that with the retirement type investment plans, there is no guarantee that those funds will be there when you're ready to bounce. Sure they have stuff in writing now, but there's always the fine print plus companies always seem to find loopholes when it comes to paying you your money. So, I do my own thing to ensure that I when I'm ready for my money, I know where it's at and how much it will be, and I don't have to pay anyone a fee for taking out my money. I don't play when it comes to the funds. I can understand your hesitation to invest, but at least check out the Black Enterprise link above and get the free Wealth Building Kit. Like Que said Roth IRAs are beneficial, especially w/social security being the way it is today. If your company has a 401k w/match, you really should participate. My company does not give a match since we get a pension.

[14KBlaqWmn]

Originally posted by que90nek+
oh.

my.

goodness.


most roth ira's are no more risky than your savings account at your bank. i recommend this as a minimum...so when u do get older u don't have to continue working.

a serious problem with black folks...(well...not problem)...how do WE get past the mistrust?
que, it's not mistrust. it's thinking about ALL the possibilities. I will be taken care of nicely in my old age. There are other ways to ensure of that.

[14KBlaqWmn]

Originally posted by mystkev+
I can understand your hesitation to invest, but at least check out the Black Enterprise link above and get the free Wealth Building Kit. Like Que said Roth IRAs are beneficial, especially w/social security being the way it is today. If your company has a 401k w/match, you really should participate. My company does not give a match since we get a pension.
I've participated in plans like that before and so forth, but again, there is NO guarantee that any of those things will be around by the time I retire. I like to know where my money is and what it's doing at ALL times. I've worked too hard for everything that I have.

[CD]

Do your own research.

If you don't have the time to constantly check your positions then you need to consider a professional money manager.

Start with your 401k and branch out from there.

Buy low, sell high

Buy and hold stratergy( long term) perspective.

Be very cautious of fads or what everybody else is doing..

[mystkev]

Bump

[zuriyahe]

Originally posted by 14KBlaqWmn+

I've participated in plans like that before and so forth, but again, there is NO guarantee that any of those things will be around by the time I retire. I like to know where my money is and what it's doing at ALL times. I've worked too hard for everything that I have.

This is a very valid point.

But I would say that we should really look at the facts involved in investing.

There are relatively safe investments and there are risky investments. There are MANY ways to safely invest...even in the stock market. For example...investing in Coke for the long term would proably turn out ok.

What does not always work out are those get rich quick stock market investing schemes...investing for the long term almost ALWAYS works out positively.

Making a decision to slice some money and re-directing it to a savings account can result in some substantial savings in the future. I have been pulling $30/month for my son's savings for the last several years... If your job/credit union allows it...have them take money out of your check...so that it is painlessly put into savings...

There are many ways to safely invest...we just have to open our minds and work through the misconceptions of investing.

And also do the math...safe investing or no investing...we both have risks of losing money in both...

But which is the GREATER risk? How about 20 years down the line? Where do we want to be in 20 years? Scratching for dollars or taking that well deserved cruise?

[zuriyahe]

We even get our aluminum cans and turn them in and put them into savings (or maybe into bonds) for Zuri Jr. There are many creative and somewhat painless ways to investing. Putting away 10 bucks a month can result in some awesome savings...over time...