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re: Investing Advice for a Noob
Posted on 2/1/13 at 10:29 am to OnTheBrink
Posted on 2/1/13 at 10:29 am to OnTheBrink
quote:
So, you would open an IRA only to withdraw 2 years later? And for a car of all things. I would just leave it alone.
Sorry I should have been more specific. I would put the $2500 in an IRA and leave it alone. The other $5500 is what I'd like to invest to put towards a down payment on a car.
ETA: I also won my history class stock market project in high school, so I'm basically a wizard, right?
This post was edited on 2/1/13 at 10:35 am
2
Posted on 2/1/13 at 10:48 am to foreverLSU
Yeah, I kind of agree with Fat Bastard. Save for a down payment for the next two years and leave what you have in there.
As far as getting into the market, best of luck. Not saying that money cannot be made, because it can, but money can also be lost.
One question, why not use the money for the purchase of a vehicle now? That $5,500 you invest could become $4,500 by the time you buy.
As far as getting into the market, best of luck. Not saying that money cannot be made, because it can, but money can also be lost.
One question, why not use the money for the purchase of a vehicle now? That $5,500 you invest could become $4,500 by the time you buy.
Posted on 2/3/13 at 9:04 am to foreverLSU
quote:
Sorry I should have been more specific. I would put the $2500 in an IRA and leave it alone. The other $5500 is what I'd like to invest to put towards a down payment on a car.
I thought that's what you meant. I would stay the heck away from individual stocks without a much deeper understanding. Researching mutual funds is much easier. There are nearly an infinite number of options and figuring out the loads, historical rate of returns, what sectors you want, risk, is much, much easier than the legwork needed to understand the variables associated with a individual stock offering, much less picking one that is correct for your situation.
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