I wish I had know about mutual funds when I was younger. My family knew nothing about money matters except that they were frugal and paid cash for everything.
I started work at a young age and always saved at least 10% of what I made, but I always put my money in a savings account.
If only someone would have turned me onto mutual funds back then, what a head start I would have gotten.
although there were not a lot of mutual funds in the 50's and 60's there were some. One, called twentieth century back then, (now American century) would take deposits of any size, so anyone could own a mutual fund.
I wanted to learn about investing, but had no one to give me advice.
I looked in my tiny library, but there were no books on finances.
I finally bought a copy of money magazine and have been reading it for over 20 years.
I read everything they said about mutual funds and sent off for about 50 prospectus!
I read everyone of them and decided on the Twenthieth Century because I could open a mutual fund with only $50. That $50 has turned into $50,000.
Now, I tell every young person I meet about the smart thing to do, open a mutual fund account when you are young!!
Things I wish I had know when I was younger!
December 12th, 2007 at 04:21 pm
December 12th, 2007 at 05:04 pm 1197479086
It is not just enough to read books, the newspaper, and talk to the bankers. You have to dip into the water. Investments take courage, a strong stomach, and lots of brainwork.
I use an advisor who is a very very good fit for my personal circumstances.
December 12th, 2007 at 06:01 pm 1197482469