So I'm 20 years old and was just informed I have like 3,000$ in the stock market; more specifically the insurance company my mom works for. Apparently when I was younger my parents took my birthday money and set it aside. I had the idea of taking out the 3 grand and investing it back into the market, creating a more diversified portfolio. Is it realistic for an individual to make money in the stock market starting with 3 grand? Any tips would be awesome! Thanks
Yeah. First learn about the stock market and then find pennie stocks and buy massive amounts of shares. When the shares go from pennies to dollars youll easily double up.
Lol penny stocks are for serious gamblers. If you don't mind blowing that $3k then by all means try your luck on penny stocks. Like 4 years ago I was bored and tossed $3k on Etrade and well I think I cashed out with around $1k. The stocks you can afford with that bankroll either yield a slow and low return or you risk losing it all. Btw, you can only do like 3 or 5(forget the number) round-trip trades, where you buy and sell the stock before you must declare as a day-trader and fund your account $25k - at least this was some serious call I had with Etrade years ago. I honestly suggest just buying a CD and saving that money for a rainy day.
best bet is gold/silver (yeah yeah yeah) but honestly it will be the best asset to have to keep pace with inflation/deflation and as a store of wealth. if you're looking to get rich quick, that's a gamble.. and you can in stocks but you can also lose just as easy. Gold / silver will hold value across all currencies and economies. if you put in CD you get what... 1%, but inflation is said to be ~4% and probably more like 10% if REAL data points are used.. so you're effectively losing 9% of purchasing power per year with a CD. Won't have that problem with gold...
Don't play penny stocks. Fastest way for a market novice to lose their money. Don't play the market period until you have years of study & know what the hell your doing. If you only have 3 grand physical gold is the way to go right now. Even though it has gone from about $280 early 2000's to $1600+ today when the financial shit hits the wall on this economy & the dollar, gold will go much higher. I would not be surprised with a triple from here. Physical gold, which you hold, will be good when the dollar isn't worth the paper it's printed on & you can't buy dick with it. Don't get me wrong about penny stocks. You can make big money in them, I know I did but also lost big too. It takes years of experience to play those & the only real winners are the market makers. Cheers