Investing

[time md]

As of lately I have become very interested in the ways of investment. Do you guys have any advice? Tid-bits from your own experience, perhaps. Or any certain reading material that is good at spelling out the basics of investing.

Any and all advice is appreciated.

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[Jolie South]

there is a finance forum that would probably have an answer to your question. i would do a search there.

 

[medguy83]

There are tons of resources available probably at your local library. Everything from stocks, options, commodities, real estate, etc. I thought Rule number 1 was a pretty good introduction to stock investment. It's hard to say who's advice you should take. Some advocate certain methods over others when it comes to successful investing; I guess whatever works for you.

 

[shevie]

find a good stock broker or investment banker. hand over your $.

thats how i do it at least.

im not really intersted in the "investment" part of it (ie i dont care abt analyzing it and following the stocks, the background behind it), only the bottom line "making money" part of it.

so whatever gets me the greatest yield....

 

[Old Grunt]

As of lately I have become very interested in the ways of investment. Do you guys have any advice? Tid-bits from your own experience, perhaps. Or any certain reading material that is good at spelling out the basics of investing.

Any and all advice is appreciated.

I invest with fidelity and really like them. You can call them and talk to them about your options.

One mistake I did make, and to be considered is this, in my previous job I invested in an IRA. I now have money sitting in the fund that I essentially can't touch. So in essence, I locked up my own money that I can't get to now that I need it. Just something to think about. If you go with an IRA, go with the roth. I would personally recommend a mutual fund. You will have the ability to access your money if you need it during school without penalty if you set it up right.

 

[Kthanksbye]

I invest with fidelity and really like them. You can call them and talk to them about your options.

One mistake I did make, and to be considered is this, in my previous job I invested in an IRA. I now have money sitting in the fund that I essentially can't touch. So in essence, I locked up my own money that I can't get to now that I need it. Just something to think about. If you go with an IRA, go with the roth. I would personally recommend a mutual fund. You will have the ability to access your money if you need it during school without penalty if you set it up right.

An IRA is designed to allow tax free investment until you retire. You don't use an IRA if you need the money before you're 65, but it is an excellent vehicle for retirement savings.

 

[searun]

The best way to get started in investing is with a top performing no load diversified mutual fund. I have studied this very carefully and in my opinion the top three mutual fund companies are Vanguard, T Rowe Price, and Fidelity. These are no load funds, meaning, you are not charged a sales commission when you invest in the funds, which will save you 5.75 percent of each purchase, And the expense ratios are very low, meaning the fund charges you a relatively small amount to manage the fund. Each of these three funds are extremely highly regarded in the mutual fund business for their management expertise, historic performance, and low cost for the investor. Each of these three companies has a broad selection of mutual funds in various sectors of the domestic and international market. If you can average 10 percent return per year, your money will double every 7.2 years, and these funds perform at this level and better historically.

Good luck. Start young and let it grow. You won't need to work after you are fifty if you are dilligent in investing.

 

[Picklesali]

So - Next year I will be getting a stipend for my MD/PhD program. I would like to save a bunch of money from it if at all possible. There are two options I can see for my money - paying back my undergrad loans (I have sub. stafford, unsub stafford, and some private educational loans) or investing. Is it possible to invest my money somehow and get a return that's higher than the interest on my private loans?

 

[etf]

find a good stock broker or investment banker. hand over your $.

thats how i do it at least.

im not really intersted in the "investment" part of it (ie i dont care abt analyzing it and following the stocks, the background behind it), only the bottom line "making money" part of it.

so whatever gets me the greatest yield....

hand over your $ is right, because that's what you'll be doing. a lot. nobody needs a broker, particularly us more "driven" people in medicine. formulate an asset allocation and invest regularly in a few mutual funds, and you'll do fine. i heard this somewhere and i agree: your time in the market is far more important than how you time the market.

 

[The White Coat Investor]

Read 1 good investing book and it will pay off more financially than your final year of residency.

I would start with one of these:

The Boglehead's Guide to Investing
4 Pillars of Investing
The CoffeeHouse Investor