I wish I could tell you that I learned to invest at an early age. The truth is; I did NOT!
My father died before my 10th birthday and my mother knew nothing about investing. She just knew to pay your bills first and she never had a credit card.
When I moved to the mountains in the early 80's , I went to the library to get books on investing and found nothing in our tiny library. Finally, I started reading Money magazine.
I learned that mutual funds were the way to go and I sent off for over 100 prospectuses. The one I chose (mutual fund) was called 20th Century fund, Heritage. They had no minimums which was great for me.
I opened my first mutual fund for $50. I was a waitress at the time and every night, I would put my tips in a wooden box, always putting 10% of them towards my new mutual fund. I made $2.01 an hour and my tips were about $20 a night. ($12 on the day shift)
The most I have ever made in my life time was about $8200 a year, yet I have a pretty good stash in my mutual funds. I have always advised young people to open a mutual fund. I did not start until age 44, but I have done pretty well. Having a paid for house at age 32 helped me out a lot too.
I still have my Heritage fund. It is now called American Century Heritage fund.
Investing
January 3rd, 2013 at 07:41 pm
January 3rd, 2013 at 08:00 pm 1357243224
January 3rd, 2013 at 08:02 pm 1357243321