Invest in mutual funds?
Hi, I have 00 that I would like to invest. I have read about forex, and stock trading, but I do not know much yet, and I dont have time to be watching the market. So I was thinking about investing in mutual funds in order to start learning about investing, since I’m planning to get a degree in finance in the future. Can someone give me more info on where to start? or any other ideas? Consider that I do not live in the U.S and lot of brokerage firms ask a lot of money in order to open accounts. Thank you!
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I think a mutual fund is a wise choice. Check out Fidelity, American Century, Vanguard, T. Rowe Price. Although many funds have minimum balances higher than $2000, some will allow you to start with less if you agree to make monthly investments. I’m not sure if that works outside the U.S. though since I think they automatically get the money from your bank account and they might not be able to do that outside the U.S.
You want to get a "no-load" fund (one that doesn’t charge a fee to buy or sell it) with a low expense ratio (so you get to keep more of the earnings). When just starting out, I think an index fund based on a major index like the S&P 500, Mid-Cap 400, or Russell 2000 is a good choice. This assumes you are investing for the long term and don’t need the money for something in a year or two. If you need it soon, you’re probably better off with a money market fund.
I’d stay away from forex. If you don’t know what you’re doing, you can lose a lot of money fast there.
You could also consider opening a brokerage account and buying an exchange-traded fund (ETF). They’re very similar to mutual funds but trade like a stock. Some to consider have ticker symbols SPY (S&P 500 Index ETF), MDY (Mid-Cap Index ETF) and IWM (Russell 2000 Index ETF). I think some discount brokers may open accounts with $2000. Try TDAmeritrade, Scottrade, E*Trade.
go to a no load fund company like troweprice,vanguard or fidelity, i use troweprice and am in a target date retirement fund that adjusts as you age and get closer to retirement (2035 for me) and it is less than .8% i think
dont do forex at all, i wouldnt bother with stocks until you have alot of money ready to invest and lose maybe, just throw it in a fund at trowe price or vanguard and be done with it, let them adjust it for you while you learn
I’d definitely invest in Forex if I were you…
I’ve made like $300k this year along…
THis free course helped me out alot, called 12MinuteFX (link below..)