Getting started trading.
June 17, 2011 11:33 AM Subscribe
Help provide an early 20s female *complete* financial n00b with resources and information about stocks/mutual funds/hedge funds.... And how to grow a little pile of money successfully.
posted by Dukat to Work & Money (18 answers total) 57 users marked this as a favorite
I am in my early 20s, and I know NOTHING about stocks. I have seen a few of my boyfriend's friends (in their early 20s as well) trading stocks on E-Trade, and realized that I wouldn't even know where to start, and that these guys were growing/losing/gaining (but probably on average growing) their pile of money into something, and here my money's just sitting in savings at account at the old bank earning a dime of interest a year (it seems).
I don't know the difference between stocks and mutual funds (I think mutual funds are investing in a large fund of stocks - so I guess you own a very very small portion of certain types of stock), I don't know anything about bonds (or why they're superior to stocks, or inferior, or when you should buy what), or what hedge funds are.
I'd like to get a really good solid education on these things, and then start investing after I actually know what I'm doing.
Could anyone here provide me with resources - a REALLY good resource for beginners - on these things? All the resources I've come across assume some sort of basic knowledge.
Then what happens - is a place like E-Trade a good place to start? Where else would be good?
I'm in my early 20s, have a professional job, and would be able to devote about $1,000-$2,000 to start, if that's enough?
Many many thanks for your advice and help