Year later at age 22, I would open my first stock brokering account. It was hands down easier than opening my first bank account. It took all of about 20 minutes plus a few days to process, and I had an account up and running on Etrade. The stock market is a better way to store your money than traditional banking. Seriously get on now while you are young because the sooner you start the greater your future benefits. Don't believe me? Check out some info.
Using my personal account as an example. I started an account with $400. If that money was left in the bank to accumulate interest, then I would have made about $20 in on year. In my first week of trading I bought shares of stock IPCI, a pharmaceuticals company, at $4 per share. It shot up to $4.9 two days later, and I sold it the following week. This netted me a profit of about $18 in one weeks time. And it wasn't really that hard of work; to be honest it was fun. Who knows, perhaps one day you could become a stock broker, and "A Wallstreet buff named Warren Arthur calculated the average income of a stockbroker to be around $175,000 a year."
Obviously I'm not saying abandon the banking system and go entirely into stock. Nor am I promising good positive returns on investment. What I am promising is you will learn more about economy, stock markets, or assets than you will in any business or economics class in college. Experience trumps knowledge in this field. If you still doubt that banking is the faulty system know that Henry Ford, founder of Ford Auto, once said,
"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."
Trading stocks is fun, but there is a reason why day traders typically lose enormous amounts of money. Advising people to invest most of their money in the stock market instead of putting it in the bank could be catastrophic for some. Yes, it could be a valuable learning experience by learning how to invest. I would suggest that for those who would like to make more interest but with less risk and still see some kind of return would be to invest in government and corporate bonds.
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