Your Questions About Investing Tips

Steven asks…

What is your best real estate investing tips?

John answers:

Read/learn as much as you can before you get started. There are tons of great websites where you can learn real estate investing for free. You can still buy properties no money down, especially in this economy. There are people who may be willing to sell to you and owner finance the property, and may not even request a downpayment or earnest money deposit. You could solicit sellers such as tired landlords and out of state owners to see if they’d be willing to sell to you and owner finance.

Also, to build some cash, you also may want to consider wholesaling real estate to put quick cash in your pocket to save for a downpayment, if necessary…or just use that money to pay down debt or build your REI business.

And join your local real estate investing club. The connections you make there will be invaluable and you will learn a lot. Most meetings are free!

Some of my favorite sites/blogs are below! Good luck!

Jenny asks…

Is there a credible online source where one can get tips on investing for novices like myself?

I already have a 401k but was told I could be maximizing my money so much better if changed the mix of my contributions…this is all foreign to me and I would like to educate myself before changing everything up.

John answers:

These sites should be helpful:

401k Tips: http://mutualfunds.about.com/od/retirement/u/401k.htm

Preventing 401(k) mistakes: http://money.cnn.com/2008/02/04/pf/saving/toptips/index.htm?postversion=2008020411

Hope this helps and Good Luck to your investment!

Best regards,
Chokyi Ooi
Read more 401k investment related articles @ http://finance.chokyi.com

Laura asks…

Does anyone know a great website for tips on investing?

I’m trying to see what are the best stocks to invest in.

John answers:

Http://www.nabloid.com

Lisa asks…

What are Some Investing Tips?

Yes hello I am a total new investor in the Stock Market. I am looking ot purchase stocks but I am not very clear with the stock Market.

Can you please provide a link to website that explains the basics of investing or list some key terms or common words used in investing. If you would like to, feel free to provide your own explanation of the common stock market.

Some Questions are:

– How do you purchase a stock?
– How are people getting rich off stocks?
– How do you invest in a product that a company is selling?

Thank you very much!

John answers:

1) You purchase a stock through a stock broker. There are two main types of stock brokers. One type of broker is a Discount Broker, which simply sells and buys stocks on your behalf. Nothing more, nothing less. A full-service stock broker however, gives you info and investing information on a particular stock and it’s industry. Full service is a lot more expensive in comparison to discount. However, I recommend you choose full service since your a novice in the stock market.

– Buying low, selling high and holding for the long term. You can’t get rich by Day Trading as it involves too much risk and the commissions totally eat into your profits. Big name investors such as Warren Buffet, Peter Lynch etc all hold for the long term. That is arguably the most fundamental rule when it comes to investing.

– That statement is ambiguous.

You can, however, before entering the real world, practice online with Investopedia. It’s stock simulator gives you $100,000 cyber money for you to practice. I’m currently using it and it’s great. It’d also save you from a lot of tears and havoc in the real world.

Some major rules of investing in the stock market:

– Hold for the long haul.
– Don’t buy stocks because the media recommends you to.
– Do your homework (e.g. Reading it’s financial status, of which you can learn more on Investopedia).
– Invest in yourself. Don’t buy stocks because of your emotions.

Useful link: http://www.investopedia.com

Helen asks…

What are some good tips for investing into the stock market?

John answers:

Start your life in the investment world by educating yourself. The first investment you should make is in yourself and the best investment you can make is in education.

Start your investing/trading education by learning why you should invest, and the importance of being able to make your own decisions. See how the pros have done it. Start by reading, What Works on Wall Street by James O’Shaunessey, Beating the Street and One Up on Wall Street both by Peter Lynch, The Warren Buffett Way by Robert Hagstrom, Trading For A Living by Alexander Elder – “How to Make Money in Stocks” by William O’Neil and The Disciplined Trader by Mark Douglas.

Get into the habit of making daily visits to some websites like MSN Money and Yahoo Finance. While at MSN read the Commentaries by Jim Jubak, Jon Markman, Harry Domash, and Liz Pullman Weston. Following the strategy lab analysts to get a feel for what the pro’s are doing and why. This site has some basic information for beginners. If any site offers free information, take it.
Other website that can provide instructions and help with procedures and terminology are Investopedia.com, Stock Charts.com, and 1source4stocks.com
Visit some of the more professional websites like Zacks.com, Smart Money, Schaeffers.com, Trading Trend, Trading Markets, these website will have advertisers who are worth looking into also. And remember, if they offer free information, get it.

Attend all the free seminars you can, just be careful and don’t get pressured into anything you really don’t want or need. Most schools offer courses in finance and economics, but very few will have courses on the mechanics of the investment markets, if they do try taking the course. You may want to consider on-line courses, the New York Institute of Finance use to have such courses. Try to get some fee information from the stocks exchanges they all have (had) free booklets, SIAC and some of the regulators (NASD SEC MSRB CBOE) may provide some free literature.

What do you need to go into the market?
1 – A written sound trading/investment plan with rules that will not only help you but more importantly protect you, mostly from yourself.
2 – Sufficient trading/investment capital. Use your own money, there’s no need to go into debt so that you trade/invest.
3 – A written money management program in place. Remember never invest 100% of your capital into any one security.

You at least have made the right decision to start investing, this is the first big step and it won’t be your last. Keep taking those steps forward and along the way never take the advice from people that are not in the market or try to tell you not to invest. Good luck on your journey

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