Originally Posted by ahimel
I would read A LOT more before you start selecting your own equity investments. DO NOT try to pick your own stocks based on advice from MSN Money.
But I would start doing SOMETHING today. Any idiot can invest in an index fund. And 2, 5, 10, or 20 years later, when you feel that you know enough to begin selecting particular investments, by all means feel free. But don't wait 2, 5, 10 or 20 years to start investing at all. Start now. You can always move the money elsewhere if you decide it's not what you want.
That's kind of what I figured. Rich Dad wasn't valuable to me because of its investing advice (I mean, he's basically just a real estate mogul, right?), it was valuable because of its psychological approach. When I said "financial IQ of an eggplant," I meant it. My fundamental relationship with money needs to change. I don't really expect myself to go from "what's an 'asset'?" to daytrading in a week!
I don't know the first thing about stocks, but I figure that there's got to be a better way to get my money working for me right now than opening a savings account at Wells Fargo!
I've been taking notes on all the books various people throughout the forum have been advising. Copla, thanks for your tips -- some of the books in other threads sound a bit advanced for me.
I was advised a while ago to open a money market savings account, but most require $2,500-$3,000 dollars opening balance, which, sadly, isn't in my near future. That's why the MSN article caught my eye.