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Question: Is this the best time to buy stocks/mutual funds? ?

(Posted by: Vault on 2008-10-12 09:17:37)

I'm only 16 right now but would this be the best time to start buying stocks or mutual funds at the market is very low.

Posted by: G$ G on 2008-10-12, 09:34:16

YES! At 16, you have a LONG timeline ahead of you for retirement (or even your first house). The valuation of stocks/ funds right now is at historic lows. The panic that you see and read about is a relatively short term issue (3-5 yrs) that may impact those in or near retirement right now, but is a great buying opportunity for someone like you. Buy a low-fee index fund (S &P 500, Dow, or Total Stock Market) from Fidelity or Vanguard.

Posted by: muneepenee on 2008-10-12, 09:23:56

Yu gotta get a parent tu ko-sine joint akkount til yu kum av aej. The market is so jitteree, NE munee yu put in, du it a littel eech month. look intu Dollar Kost Averaej.

Posted by: Spock (rhp) on 2008-10-12, 09:25:46

How could we know? the banks aren't saying how bad the mortgage mess might become, are they? *** suppose that housing prices fall back to January 2003 levels [as I suggested in another thread] -- how many more mortgages will then stop paying and cause foreclosures? which banks are on the hook for how much more in that case? you could see the DJIA fall to 5,000 next year if there is another $800 billion in losses for the banks, insurance companies, hedge funds, and speculators to won up to then.

Posted by: what? on 2008-10-12, 09:26:36

It would probably be a pretty good time to buy, yes. on friday, i was re-working my budget for this month, and trying to find as much money as i could to throw into my brokerage account when the Dow dipped below 8,000.

Posted by: mccleary97502 on 2008-10-12, 09:45:46

At your age, you could hold the funds or stocks for years to get a profit, even if the market goes lower, you will be able to wait it out. If you can get your parents to open an account for you, do it. Invest all you can now.