Wanting to start...

[empire177]

Hello fellow Bros, I'm currently 19 yo, am interested to get started on stocks,investment etc... Had been thinking about it since a year ago but only just recently decided to put my mind to it. Decided that I had to start somewhere to get things running.

Since I'm a newbie to this market, I would like to ask the experienced bros in this market for help and guidance. Welcome all the advises or helps

Thanks!

 

[Alfdorel]

Good to start early, but if you want to really start on stocks and investment, how much are you willing to lose?

It's good to start somewhere small, but you really need alot knowledge on the market. Perhaps you can go play some virtual investment online where no cash is needed and study how investment works. Otherwise, you can always find agents like us which provided diversified investment plans to start.

Cheers.

 

[Shiny Things]

Sure - good idea, and it's good that you want to get started early.

The thing you should do first, though, is make sure you've got a bit of cash to support yourself. Get an "emergency fund" set up first: open a spare bank account, fund it with cash equal to six months of expenses, and keep it stashed away - in cash - in case something bad happens.

And I do mean cash - no fixed deposits, no shares, no unit trusts, and absolutely no insurance policies or anything. This is cash that's going to see you through if you get fired or anything and need to support yourself for a few months.

Once you've got that set up, then you can start to invest. Set aside a couple hundred dollars a month; go down to OCBC, and ask them about their Blue-Chip Investment Plan - it's the easiest and cheapest way to get started buying stocks. If you've got a bit more - more than $400 a month or so - you can open up a brokerage account at Stanchart and buy stocks directly.

 

[leaf-simple]

Hello empire177..
Great that you're starting out at a young age! It always pays to start early.

You should always start off by reading relavent books and make sure you know what you are doing before throwing in your money. I do not recommend buying products (like investment link plans or saving plans) unless you know that is what you want (don't want to actively manage your money). Otherwise, you may end up regretting later but it's too painful to cancel.

Read up on general finance planning first, so that you know what are the instruments you can use. Personally I recommend Adam Khoo's book on "Secrets of Millionaire Investors".

 

[empire177]

Sorry for the late reply guys!!! Thanks for all the helpful advice!!! I'm currently indulging myself in finance books by Adam Khoo... Robert Kiyosaki... At the moment, I'm reading Think and Grow Rich!

 

[empire177]

Hello empire177..
Great that you're starting out at a young age! It always pays to start early.

You should always start off by reading relavent books and make sure you know what you are doing before throwing in your money. I do not recommend buying products (like investment link plans or saving plans) unless you know that is what you want (don't want to actively manage your money). Otherwise, you may end up regretting later but it's too painful to cancel.

Read up on general finance planning first, so that you know what are the instruments you can use. Personally I recommend Adam Khoo's book on "Secrets of Millionaire Investors".

Thanks for the recommendation! The book is a good read

 

[frenchboxers]

i recommend reading the four pillars of investing by william bernstein and a random walk down wallstreet by burton malkiel.

 

[empire177]

i recommend reading the four pillars of investing by william bernstein and a random walk down wallstreet by burton malkiel.

will do so! Thanks!

 

[blurblur123]

best is to read up more before putting in any money. u have a long way to go so no rush into investment.

 

[empire177]

Is there a book that covers information related to corporations or corporate stuffs?