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Advice for a young person who wants to start investing

Comments

  • #2
    FURET
    Closed Accounts Posts: 685 ✭✭✭FURET


    PCSharkey wrote: »
    I am 18 and I don't have much money, is there any stock brokers that have 0 euro account set ups, I would buy off the company directly but some don't allow that. Please don't attack me for not having a clue, also what do you think of investing in AMD while they're stock is cheap and hardware releases like they're new notebook APU's might boost they're stocks http://www.kitguru.net/components/graphic-cards/anton-shilov/amd-we-will-release-new-products-starting-in-the-second-quarter-of-2015/,

    if you could help me out it would be greatly appreciated, Thanks :)

    Your first step should be to invest in yourself. Identify a profession you enjoy that pays well and go for it. You do this so that you will be able to make a comfortable living and will be able to run a personal monthly budget surplus.

    You must also start building an emergency fund in cash that would cover you for 6 months' living expenses if required.

    Only after you have your emergency fund in place, are debt free, and are running healthy budget surpluses should you start investing. When the time comes, you should not speculate on particular industries or companies, but rather simultaneously buy many different stocks covering many different sectors.

    I understand your desire to get started now, but rather than just focusing on investing, focus on your personal financial goals as a whole. Investing is very important, but unless the prerequisites are in place (emergency fund, good income, manageable or zero debts), you will never get very far.


  • #3
    PCSharkey
    Registered Users, Registered Users 2 Posts: 120 ✭✭PCSharkey


    FURET wrote: »
    Your first step should be to invest in yourself. Identify a profession you enjoy that pays well and go for it. You do this so that you will be able to make a comfortable living and will be able to run a personal monthly budget surplus.

    You must also start building an emergency fund in cash that would cover you for 6 months' living expenses if required.

    Only after you have your emergency fund in place, are debt free, and are running healthy budget surpluses should you start investing. When the time comes, you should not speculate on particular industries or companies, but rather simultaneously buy many different stocks covering many different sectors.

    I understand your desire to get started now, but rather than just focusing on investing, focus on your personal financial goals as a whole. Investing is very important, but unless the prerequisites are in place (emergency fund, good income, manageable or zero debts), you will never get very far.

    Sounds good thanks for the reply


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