Investing 102

[Woody]

I think it is a great idea to get your daughter interested this early. I set up accounts for my kids and we sat down together to discuss some companies that they may be interested in being partners in. My son was especially excited to know that he could be a partner in Apple. Just for kicks I set up a compound interest spreadsheet and showed him what his money would grow to in 60 years at different rates of return. He is very excited about being a millionaire. I think you are on the right track with your daughter. Its great that she has already saved that much money at her age.

Originally Posted by Bow Tie 67

Total newbie here when it comes to making informed decisions on investing.

FYI called Schwab today to open an account. I have been with Scottrade for several years and they do NOT offer dividend reinvestment. Yes their trades are $7 compared to $8.95 but my thinking is the free reinvesting is well worth the difference. While talking with Schwab I was informed they are not in it for the fees. Sales talk? or not I'm moving to greener pastures as far as I'm concerned.

Greg the previous post about your thoughts with NLY has my attention.

Thanks guys for all you experience and time.

One last thought, I have been talking with my youngest, she is 18 and has 7k saved, I'm working on her to invest 5k of it in a Roth and forget about it. My thoughts are 5 Best of bread spread through the OIL, Retail, Food, Pharm, and Util sectors. .................. Thoughts? If she buys it, I'll even let her pic the stocks based on what she likes. LOL