How to invest online?
I have around $7,000-$9000 and i really want my money to grow instead of just sitting at home. I have thought about putting the money in the bank but the interest is not worth it. I want to learn how to invest online. I have no idea about investing. Can someone please help me. If you invest online do you have to pay a broker fee? How do you pick your stocks? whats the best investing site? Is there a fee? Please help me, i need the basics. Thanks
If you don’t know anything about investing it would be best to invest in mutual funds instead of individual stocks. There are always fees but you can use brokers like Sharebuilder.com, Vanguard.com or etrade.com. Sharebuilder and Vanguard are both companies I use. These sites have sections where you can compare funds.
If you are just looking for something safe that will keep it at/above inflation you can look at money market funds, preferrably with FDIC (Federal Insurance in case of bankruptcy) such as GMACbank.com which currently has a rate of 3.5%
Your local bank as well as online banks have Certificate of Deposits that often have higher rates than savings but have time limits (6 months, 9 months, 1 yr, 2 yr, etc)
It may be worthwhile to get a consult from a professional if you plan on investing continually.
Investing in Gas and Oil Stocks with Advice from CNBC and Fo
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