Novice stock investor
Hi Terry,
I am 40 years old and I still have always wanted to get into the stock market but I have always been hesitant because I don’t know how it all works. I would be interested in starting small to get the idea. I came across StockPile on your website, just wondering if that would be a good start to get my feet wet?
Thank you so much!
Beth
Terry Says
Beth, do you have a retirement plan at work? If not, you should start saving and investing in an Individual Retirement Account. Stockpile is a great place to start with a few shares of stock. But you need a much broader approach if you aren’t already investing for your future. I recommend going to Vanguard.com or Fidelity.com — or calling their toll-free numbers at their website –and ask them to help you open an IRA — and set up regular monthly contributions take directly from your checking or savings account. Start your IRA with a mutual fund that is rather conservative — an equity/income fund. That will diversify your stock market exposure. Hopefully you can put away at least $5,000 a year. Only then should you start “picking stocks” at Stockpile.
