Expert: Robert Hanzel - 12/3/2006

Question
hi my name is dwight dunn and i am currently looking for work but i would still like to start investing i could do about $40 to $45 a month how do i make this work my bank and the local investment firms will not even talk to me unless i have thousands they say it is a waist of time help total frustrated.

Answer
I understand your fristration. When I first started investing I had about $20 a paycheck. I literally opened my first investment account with $200. In my opinion your best bet is to open an account with a reputable online firm since they do not have minimum requirements and their fees are minimal. Your best bet is to go with one of the larger more reputable firms like Ameritrade or TD Waterhouse, but that is purely an opinion. Find a company that you feel comfortable with and that offers free investment advice and education. My second piece of advice would be to learn as much as you can. Read everything and listen to everything that you can. Don't believe it all, but take it in and evaluate it. You may even want to open a few portfolios on Yahoo! and practice investing before you actually put your hard earned money into something. Good luck.