FIB - Scams 101

Attn: Gail Ramsden

Posted By: Michelle Nightengale
Date: Monday, December 3, 2007, at 10:55 p.m.(pst)

Hi Gail,

I haven't been on this board in quite a while, but I'm a long time fan of MaaMaw's. I just came back here and was scrolling through the messages when I saw your post:

>> I also do investing... stock markets as well as microlending.

>> You need to research, but it doesn't involve you selling anything. You
>> can get into these for fairly small amounts of cash (about what you'd
>> spend on any "opportunity"... yes, the return is "small
>> amounts of cash" until you get to the point where you can invest
>> thousands, but it's doable with small amounts of money each month.

>> I microlend through Kiva.org (you don't get an interest rate there,
>> but I mention it because of the good you do with these loans to people in
>> very poor areas), and through Prosper.com (it's been good but you have to
>> choose wisely) and invest through Buyandhold.com (you can start with as
>> little as $25)

>Mel-Do you make a lot of money?, and also how hard is it to learn how to >invest?

Since I'm not Mel., I can't tell you if she makes a lot of money. :P But learning to invest isn't hard at all. But there ARE some basic principles to follow and a little education is in order -- especially if you know nothing about investing.

The Motley Fool (www.Fool.com) is simply the best site on the 'Net for all things related to personal finance. They charge a nominal fee for access to their discussion board ($29.95 last time I looked), but it's well worth it. (And you can get free guest access for 30 days, I believe.)

It's free to browse their articles -- of which there are TONS.

However, sometimes a lot of little articles giving bits and pieces of information can be frustrating when you need a more compehensive picture. I recommend two books:

1. "Learn to Earn: A Beginner's Guide to the Basics of Investing and Business" by Peter Lynch and John Rothschild and

2. "The Motley Fool Investment Guide : How The Fool Beats Wall Streets Wise Men And How You Can Too" by brothers David and Tom Gardner of Motley Fool fame.

Both of these books are very interesting and easy to read. No mumbo jumbo investing jargon. Best of all, they teach you that ANYONE can invest when they understand a few basic principles of money and business. No Harvard or Wharton degrees required. :P (Neither do you have to be independently wealthy.) I loved them!

Once you've read these books (neither of them is very big), you'll understand the basics and then you can research online from there. (Or read more great investing books if you like what you've read.)

Then you can use sites like Kiva.org or Prosper.com. (The Fool.com discussion boards are great for asking for advice and opinions when you need them.) In fact, Kiva.org, Prosper.com, Fool.com and BuyandHold.com are all very reputable sites which offer great investing opportunites and information for the "little investor."

I hope that helps! Good luck with your investing! :)

Michelle

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