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Stock first time buyer

By Terry Savage on July 21, 2020 | Investments

I’m trying to buy stocks but I don’t know how to go about it. What company should I use and what kind of stocks do you think are good for a beginner like me? I don’t have much money but I just want to start the little I have.

Terry Says

I can direct you to several places to start buying stocks with a small amount of money. But I hope you understand the risk involved in stock trading vs. long term stock investing. Trading with a small amount of money is sort of a craze these days — with many novices thinking they’ll make a fortune in the market. Eventually, they will lose most of their money by “following the crowd” into volatile and overpriced stocks. It happens every time — and it will again!
So please do your homework. I’d recommend the latest edition of The Savage Truth on Money, out just a few months ago, and available online at Amazon as a good primer. But you can also find information online at CNBC.com, MotleyFool.com and many other websites.

As for those websites, go to Stockpile.com if you want to invest small amounts of money — and hold for the long term. If you want to be an “instant trader” go to Robinhood.com.



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