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re: Tips for a Young Investor
Posted on 10/9/13 at 1:00 pm to FloridaMike
Posted on 10/9/13 at 1:00 pm to FloridaMike
Practical tips to consider:
Most people will say if you're young you can afford to be aggressive -- the bigger wins in some years will make up for the big losses in others and you'll end up ahead. Turn that advice upside down; if you'll be an investor for a long time, you can afford to be conservative and just pick up an easy 6 or 7 or 8 % with little effort and little stress. Over time that will make you rich, too.
Find some good companies with good dividend histories and invest in them. Set up your accounts with automatic dividend re-investment. Keep some cash around and when the price drops on one of your dividend-payers, invest some more money.
As far as your major -- it's tough to decide sometimes, and you probably won't get really good advice. You'll have to decide what you care about, what will make you happy, what you expect from a school. That decision is just too personal for us to tell you what it should be.
Most people will say if you're young you can afford to be aggressive -- the bigger wins in some years will make up for the big losses in others and you'll end up ahead. Turn that advice upside down; if you'll be an investor for a long time, you can afford to be conservative and just pick up an easy 6 or 7 or 8 % with little effort and little stress. Over time that will make you rich, too.
Find some good companies with good dividend histories and invest in them. Set up your accounts with automatic dividend re-investment. Keep some cash around and when the price drops on one of your dividend-payers, invest some more money.
As far as your major -- it's tough to decide sometimes, and you probably won't get really good advice. You'll have to decide what you care about, what will make you happy, what you expect from a school. That decision is just too personal for us to tell you what it should be.
2
Posted on 10/9/13 at 1:10 pm to tokenBoiler
quote:
As far as your major -- it's tough to decide sometimes, and you probably won't get really good advice. You'll have to decide what you care about, what will make you happy, what you expect from a school. That decision is just too personal for us to tell you what it should be.
so there is not a certain major(s) that is overwhelmingly useful for investing compared to others
Posted on 10/13/13 at 2:22 pm to tokenBoiler
quote:
if you'll be an investor for a long time, you can afford to be conservative and just pick up an easy 6 or 7 or 8 % with little effort and little stress
I'm a young investor and I work in financial services. Please tell me how I can generate a consistent effortless 6-8% annually. You will make me a very wealthy man with very happy clients.
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