Spiegs1106 wrote:I was reading the post in this forum about the stock market and became curious. I started doing research and would like to join the market. It seems that a mutual fund would be my best safe bet. I have about 1000 I could potentially put in the market and would highly be interested in doing it.
Does anyone have any other suggestions or stradegies or advica a 17 year old kid could use when entering the market? Also how would I do it. Thanx...Patrick
The first hurdle to overcome is to find a mutual fund company that will allow you to start a no-load account with $1000. Usually minimums are higher, but I'nm not up to speed with a lot lately. Often there will be lower mins if you open an IRA instead of a non-IRA account. Given your age, your parents may have to open one for you. I'm not sure how it works for those below 18. Either way you'll want to do a Roth IRA at this opint, assuming you can.