How to get started?

[Ender.]

Anyone have some resources that they might be willing to share? Any opinions on sites like e-trader, etc.

Lets say I was given $500 to invest, I know it is not a lot, but where can I research on what I should do with it... basically I guess I am just looking on whatever general information you would be willing to pass on.

Thanks.

[corey r.]

I would stick $500 into a high yield money market The broker fees on a stock would kill your $500 investment and most Mutual funds have a higher minimum.

[Ender.]

I would stick $500 into a high yield money market The broker fees on a stock would kill your $500 investment and most Mutual funds have a higher minimum.


Yeah I wasn't looking for a broker and realize most mutual funds, bonds, etc... require a larger $ amount. However this is a free $500 I just have to invest it in something.

Im not sure how biased MSN articles are but they talked about sharebuilder.com and investing in to broadly diversified ETFs.

[Ender.]

Also I am assuming it might be smarter to wait until after the 1st of the year to actually invest? Yes or no?

[corey r.]

honestly if you are wondering what to do with $500, it doesnt sound like you really have that much money to begin with. Id stick it in a MMA where it can gains some interest and is still liquid if you need to pull it out.

[Elohim]

$500 isn't really enough to work with. With that kind of money it will be hard to make anything in the market without looseing after comission. For example, if you have a Scottrade account you will pay about $14 in comission (7 when you buy, 7 when you sell), if you buy 50 shares of something worth 10 dollars and it goes up 5% you've only made 11 dollars before taxes. You might be able to work with 5k a little better, but generally I think it's difficult to trade with less than about 10k.