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+--- Thread: I am 17, is it possible for me to invest in stock market? if yes then how? (/thread-101516.html)
I am 17, is it possible for me to invest in stock market? if yes then how? - hellboy - 02-20-2014 03:41 AM
I have always dreamed about to be a stock investor, is it possible to be one and how? please tell.......
- Donut Tim - 02-20-2014 03:50 AM
Yes, it is possible.
If you are under age then you can have a parent or guardian open a custodial account for you.
You and your guardian should go to a brokerage such as Scottrade or TD Ameritrade. They will have papers to fill out and sign.
Afterward, you can trade online.
----- ----- -----
If you buy stock hoping that you can sell it for a quick profit because of the daily (or monthly) swings in price, then you are not investing. You are hoping that for some unknown reason, the trading price will go up instead of down, and that you can outguess the public and sell at the best price. That is gambling.
Instead of gambling, choose a company that has steady earnings each year instead of losses. If your company has very little long term debt, it will likely not get into financial trouble. Don't pay more for the shares of stock than they are worth. If you pay 25 times earnings for a stock, you are only getting a 4% return. If earnings are steady, you will need 25 years to earn your money back on this stock. That's horrible.
Ignore the short term swings in the stock prices.
Buy these sturdy stocks and hold on to them. When you hold these stocks over a period of time, the prices will go up for a real reason; the companies are earning money every year and becoming more valuable.
If you save a portion of your income each payday and invest in solid stocks, over the course of several years you can grow very wealthy indeed. It is like hiring someone to go to work and earn money for you, and then using that money to hire more workers. Your money grows geometrically.
Some people can learn from the mistakes of other people. Gamblers can't and usually ignore advice like this.
. .
- Daniel - 02-20-2014 03:57 AM
you can and the best option is to talk with some people you know who do invest and see if you can find out information about who they invest through as most people use a middle man company who invest for you and technically, your bank is an investment in the stock market with very little, but safe returns.
- Shivam - 02-20-2014 04:07 AM
no! stock market only ends money
- coraann - 02-20-2014 04:16 AM
Do some studying first. Then contact a broker. Don't ever buy any stocks unless you can afford to
lose the money. Don't ever plan on a quick turnover.
- smahadevan39 - 02-20-2014 04:20 AM
In India one should have completed 18 years to get the eligibility to open the Demat account.
- A Nobody - 02-20-2014 04:21 AM
NO
You can have a parent open a custodian account for you using your social security number and when you turn 18 the assets in the account can be moved to an account in your name.
A CUSTODIAN CAN NOT PERMIT A MINOR OR ANY OTHER PERSON INCLUDING ADULTS TO ENTER TRADES OR CONDUCT ANY ACTIVITY IN THE CUSTODIAN ACCOUNT
Donuit Tim - your response is NOT correct, this is according to both Federal and Civil law