Guide to Investing for beginners
I learned from www.thebalance.com When opening a new account, the minimum investment is usually ranging from $500-$1,000 and even lower.The first thing you have to do is to open a brokerage account. A brokerage account is a type of taxable account that you can open with stock brokerage firm. You deposit cash into the account, once the cash is deposited you can use the money to acquire many different types of investment. These accounts allow you to purchase stocks, bonds, mutual funds, and other investments. Time is your biggest asset!
Adding on to what Christmas Tree said, according to forbes.com, if you will need the money in a couple of years, keep it in a high yield savings account. Investing in stocks should be for a minimum of five years, and ten years is preferable.
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