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Thread: what magazine to read? how to invest?

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    Default what magazine to read? how to invest?

    ok, now i'm starting to look at this investment thingy. very clueless. melonie, you are the goddess on this!

    so what's a good magazine to read to look at the world of business and investments? 'money'? i found one called 'young money'- i'm in the age group, just no college...no wall st. journal, please. are these magazines worth my time? or should i...

    seek a financial advisor or planner? is this worth it? how do i start in researching for one? i'm not miss millions, so this will be for down the road.

    no idea on what to invest in or if to do it at all. i'd prefer something low risk and for shorter term. thanks girls!

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    Default Re: what magazine to read? how to invest?

    melonie, you are the goddess on this!
    Thanks for the 'unwarranted' praise. But please keep in mind that I'm just a dancer with big boobs who has been 'lucky' with her 'amateur' investments.

    seek a financial advisor or planner? is this worth it? how do i start in researching for one?
    Financial professionals can indeed be extremely helpful ... not only in terms of recommending investments, but in terms of organizing your entire 'business' structure to minimize your taxes as well (and tax savings can be just as important as investment income). At some stage of the game, i.e. when you're sure that you're going to continue dancing for a few years, I would highly recommend hooking up with a good local accountant who can help you with your business structure plus your tax planning plus basic investment guidance.

    However, in the early stages, it's fairly easy to start getting your own financial house in order, and to learn the basics.

    In regard to getting your own financial house in order, before you actually start investing you need to ...

    - have enough 'cash' in a bank savings account, money market account, zero penalty for early withdrawl CD's, wall safe etc. to cover any likely emergencies which might crop up. In a business like dancing, where you're not going to get an unemployment check or medical insurance if you break an ankle, this typically means enough money to cover all of your living expenses and monthly bills for at least a 4 month period better yet 6 months. The logic behind this is that investments are about buying low and selling high, such that you never want to be caught in a situation where you are forced to sell an investment at a 'bad time' and take a loss in the process in order to cough up cash.

    - the absolute best 'investment' you can make is to get rid of any 'negative' interest rate obligations that you have. This starts with credit cards, and works its way down to car loans and student loans. The logic behind this is that any obligation you have that has a 'real' interest rate higher than the inflation rate should be paid off ASAP because it is making somebody else rich instead of yourself. Put another way, paying off a high interest rate credit card is a zero risk 12-18% guaranteed return investment without a capital gains tax liability !!!

    When I mention 'real' interest rate, this takes into account things like mortgage interest where, thanks to the tax deduction, the 'real' interest rate is much lower than the stated rate.

    so what's a good magazine to read to look at the world of business and investments? 'money'? i found one called 'young money'- i'm in the age group, just no college...no wall st. journal, please. are these magazines worth my time?
    With the volume of material available on the Internet these days, I gave up all of my financial mag subscriptions. The problem with mags is that the info they contain is always at least a month out of date ! And when it comes to the financial 'press', even up to the minute stuff like cable business channels still depends on market psychology. If you want a laugh sometime watch BooYah Kramer's cable show and at the same time watch the stock ticker for the stocks he's touting or panning. Actually, if I was a total gambler, I would 'short sell' half the stocks that Kramer touts, on the basis that the momentary share price is being driven up for no good reason whatsoever other than clueless viewers putting their money where Kramer's mouth is !

    One of the very best places to start educating yourself about investing is at . Start by familarizing yourself with what stock shares, bonds, and mutual funds really are and how they are traded.

    Follow up by checking out and doing some personal 'soul searching' to arrive at your own personal 'investment goals', 'investing style', and 'risk tolerance'.

    i'd prefer something low risk and for shorter term
    Well, at this particular moment in the world economy, and with black clouds on the horizon in Iran, that's actually a pretty tall order. Where stocks are concerned, almost all shorter term moves in stock prices are based more on market psychology rather than economic fundamentals. If you're talking about shorter term meaning a few months, and if you're talking about low risk meaning at least breaking even on your original investment, you may want to simply shop around for 6-12 month maturity CD's and wait to see if the middle east blows up or not before your CD's mature.
    ~
    Last edited by Melonie; 02-05-2006 at 07:30 AM.

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    Default Re: what magazine to read? how to invest?

    Read The Wall Street Journal every day.

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