Investing in stock market.
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Hi guys I'm 14 this year and I would like to start up a franchise business in the next couple of years. I'm trying to earn my capital through the stock market and before I do so may I ask is it legal for a 14 years old to invest in the stock market? Warren Buffett was only 11 years old when he first invested in the stock market. If it's legal in Singapore, how can I invest? Do I open up an account in a broker firm or are there any ways to do this? Parent's consent is not an issue here.
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Technically not legal, need to be of above age 21. I don't recommend investing, because the rule of thumb of investing is: only invest how much you can afford to lose. You only think of the potential gains of the stock market, but have you thought of the potential lost that you might make?
Playing the stock market requires a detailed analysis of which stocks to buy, which stocks to avoid. You need to read news that affects the stocks that you have just bought.
You need a capital to start your business, so I'm very sure the sum of money is very important to you, hence I suggest you keep the money in safe deposits in the bank. Fastest way to raise capital is just save and save and save.
There are alternatives to stocks to raise capital. Fixed deposits in a bank is one of them, though interest rates are around 1%? You can try to ask your parents to buy you an annuity to fund our business if they are willing to help you. Government bonds or bonds by reputable companies such as SIA are good alternatives too?
Basically, my suggestion is simple. You are too young to do investing, the money is too important to you to lose it in the stock market, so i can only advise you to put it in a bank or buy bonds or annuities.
Cheers
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trust me boy, at your age, if you do not have $100, 000 cash to invest in stocks, you can't earn much capital from stock market.
When you grow up older, you will get to learn about Financial Market and the Financial System. But for now, you are too young to be expose to such knowledge. I'm sure one day you will become a great learner, and I wish you best of luck to your studies and future endeavors.
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He was born in to a good family.
Good family + come out work to earn money = More money.
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You need to be 18 to open a CDP account which is required to buy shares. So right now the best you can do is fixed deposits like what that other guy suggested.
Use the next few years to learn more about the stock market as well.
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Say you have $10k, and let's say you can earn 25% compounded over the next 6 years, if you are as good as Warren Buffett,
you will end up with $38k.
For a fact, Mr Buffett did not earn his first money from the stock market. He earned it from selling coca-cola bottles, then proceeded to invest in pinball machines.
If you want to model after people, you don't jump direct to the middle or end of the person's model. You begin as he did with sufficiently humble beginnings.
"Even as a child, Buffett displayed an interest in making and saving money. He went door to door selling chewing gum, Coca-Cola, or weekly magazines. For a while, he worked in his grandfather's grocery store. While still in high school he was successful in making money by delivering newspapers, selling golfballs and stamps, and detailing cars, among other means. Filing his first income tax return in 1944, Buffett took a $35 deduction for the use of his bicycle and watch on his paper route. In 1945, in his sophomore year of high school, Buffett and a friend spent $25 to purchase a used pinball machine, which they placed in the local barber shop. Within months, they owned several machines in different barber shops."
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buffet's model wont work in today's singapore.
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let the inflation take place!
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People say buy hdb flat now because they will appreciate in value until 1 million dollars.
Don't know whether true or not.
A lot property bulls keep saying that.
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Self fulfulling prophesy
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Originally posted by βÎτά:
Self fulfulling prophesy
But then I think after selling hdb flat for 1 million, where do I sleep?
Pitch a tent at the beach?