Post of the Day
December 1, 1999

Board Name:
Living Below Your Means

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Subject:  Re: ANY IDEAS??
Author:  2gifts

Hi all.. I recently opened an E-Trade account worth 4000.00 and gonna be my frst time to invest in the stock market, I've been reading a lot about people who start with much less that that and now they mass a good fortune. how [do] they do it?? is it wise to start in options? I need some ideas from experienced people.

You won't get there by always swinging for the home runs, which is what I think options trading is, because you're more apt to strike out than strike it rich. You will get there by going slowly and steadily and understanding what you are doing. Most people start out with a little bit of money and continually add to it, so it grows over time. I started investing about 20 years ago when
"You will get there, and you will get there starting with small sums of money."
I got involved in an investment club. Since then, I have invested on my own, but I started with $50 a month going into DRP's. I was just doing the investment club books on Sunday [this club is 13 years old and is only my brother, my dad and me], and our club has finally passed the $100k mark in assets which was our big milestone. I figured out that I have put $11,000 in over that time, and it's worth about $45,000 now. Not stellar performance, but not bad either for $50 a month over all that time with a couple of thousand as a kicker from the previous investment club.

Don't be in such a hurry. Take your time to learn all you can and understand what your options are. Read the 13 Steps to investing here on the Fool as well as a couple of their books which you can get at the library. I also recommend that you check out the NAIC and their website at www.better-investing.org as they have a similar philosophy to the Fool. Invest regularly in good quality companies. Reinvest your dividends. Invest for the long term. You will get there, and you will get there starting with small sums of money. But you have to give it time. Most people do not get rich overnight. It's wonderful if you do, but don't count on it, and plan to do like the rest of us.

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