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Anniversary gift of starting investments. Best way to start.?
My 1 year wedding anniversary is Monday and I’m sorry I didn’t think of this sooner. My husband has been watching the stock exchange everyday and wants to start investing. He has no practical knowledge of stock trading and so I’d like to get him a few little stocks and a book or magazine subscription that will help him learn. I live 10 minutes from several stock brokerages in Salt Lake and was thinking of getting him maybe 3 or 4 shares of an airline we have here, because we love traveling, and I don’t have much more than $50 to start with. I’m a stay at home mom and want to do this without using money he has earned. That’s why my budget is so low, we are otherwise not hurting for money. But the cheap stocks are meant to be more symbolic than something we will rely on at this point. I just want to start him and I have no idea how. Any advice would be appreciated.
Dabbling in single stocks is simply another way to pay for an education. He will likely lose money, but he will learn a lot in the process. Whatever the price of a single stock is, half the money believes that it will go up, and half believe it will go down. There is no reason to think as a beginner, that you will be on the correct half.
Warren Buffett believes that airline stocks are going nowhere, and most of them have – I wouldn’t recommend them either.
The best way to build real value is to start investing in a mutual fund, using an automatic investment each month. many companies, such as Vanguard and T Rowe Price will let you do this, and start out with only $50 a month. Their funds do have share prices and stock tickers and all the fun things for your husband to watch and learn – but he probably shouldn’t play with it.
Another option for you is a service such as Sharebuilder. Their commissions are very low, and you can buy even one share at a time. Once you have one share, if you have picked a company that offers a Dividend Reinvestment Plan (called “DRIP”) then you can put extra money into more shares any time you want, without paying a commission at all. This kind of service is used sometimes to buy shares of stock for kids, for instance a share of Disney. That allows them to follow the market and see the value of their share go up and down.
There are also many websites that offer “virtual” trading. These are basically online games where you start with a pretend account and buy and sell according to the market. Your husband can learn a lot by doing this, but I will warn you it is a LOT easier to make a lot of money when investing fake money! (You tend to take more risks, things you would never do with your own money.)
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