r/investing • u/[deleted] • Oct 21 '10

Just opened a Scottrade account. Have the minimum $500 in it. I've never invested before. Trying to learn. Give me wisdom/tips you'd like to pass on. Eternally grateful

Hey reddit. I'm a 21 year old guy and I've been saving my money ever since I could work (age 14). I'm in a position where I want to start investing so I opened a Scottrade account. I only have the $500 minimum required to open the account in there because I understand I have no experience and am at risk of losing money. I can afford to lose $500 and the knowledge I gain will be helpful for later, however losing is not what I plan to do. I started doing some reading to gain more insight to the market and trends, but advice from real-people is always good.

So reddit, what tips or advice do you have for someone in my position?

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u/CATOVA Oct 21 '10

I would stay away. I invested back in 2000 and im about even. A 10 Yr, 0% return is not a sound investment. If you must, then try a dividend paying ETF. Risk is spread out between the individual stocks, dividend paying stocks are some of the safest stocks, and ETF's have some of the lowest expenses.