i really wanted to play the phil. stock but i don’t know where to start…please help
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The advantage of buying stock is that you can make individual choices, and if you do well, your choices may pay off handsomely. People who bought Microsoft in 1986 and held, when it was just a small company, have done very well. Same with anyone who invested in Berkshire Hathaway in 1958 and held.
But you’ll have the problem of choice. There are thousands of stocks to choose from, and finding the next Berkshire Hathaway or Microsoft will be very difficult. Professional money managers have a tough time. A beginner will have a tougher time. Investing in stocks requires a lot of research and thought. If you look on investing as a hobby, then you might enjoy buying stocks. But if you just want to invest for retirement without doing a lot of research, stick to mutual funds.
BTW, when you refer to the “phil. stock,” do you mean the Philadelphia Stock Exchange? If so, don’t limit yourself to any particular stock exchange or market. Look anywhere and everywhere for good investments. The Philadelphia Stock Exchange is actually mostly a market for standardized stock options.
Open a brokerage account at Zecco and invest in Microsoft and Apple.
Picking stocks is tough to do well! I can’t recommend buying single stocks for most people. Investing in the market is very wise using low cost mutual funds. I’m going to assume you do not have a lot of money to invest. I recommend Excelsior mutual funds. For $500 you can open an account with no fees.
You will need to start with getting a basic education on stocks, bonds, and mutual funds.
1) Mutual Funds for Dummies, by Eric Tyson
2) http://www.invest-for-retirement.com has a free downloadable book
3) http://www.investopedia.com has tutorials