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There’s more of first-timer info I shared in answer to a similar Question today. You perhaps won’t mind referring back to that at.;_ylv=3?qid=20080516052332AAw92l6&show=7#profile-info-jqHMmt4Yaa

Time deposits earn more than savings accounts but require a minimum time (e.g. 30-, 60-, 90-, 360-day maturity). Should you need immediately cash before maturity, they charge you an early withdrawal fee. This is also the safest but earn the least of all types of investments.

Investing in stocks and bonds gives bigger returns than banks but have higher risks. They require understanding of the market. Something that one does not get from just reading a book. You have to know the fundamentals of the company issuing the stocks or bonds. You have to know if they are stable enough to ensure that even if the prices go down, they will also go up.

Check up on the corporate profile and how frequent dividends are declared. A company that regularly declares dividends is a “blue chip” company and is therefore worth investing in. However, I’ve seen blue chips companies affected by market forces and the economy, that when their business went sour, they stopped declaring dividends altogether.

I’ve also seen prices of blue chips shares plunge and not recover for at least a couple of years.

I trade in the bourses as a hobby. I invest only 10% of my excess money there. However, I select the issues that I put my money in. I don’t invest in companies that I do not know its business and financials by heart.

Yes, I also read the book, “Rich Dad, Poor Dad”, and it actually inspired me to invest more in stocks and bonds. However, it took me more than six months for me to compile the data on all the stocks and bonds before I finally made the move to invest.

Investing, specially if its your savings, should not be done in a whim. True, it may earn you more than a bank account, but it can also clean up your savings.

I hope you consider my advise carefully before plunging into it.

A good place to start is a low cost indexed or balanced mutual fund that invest in many stocks, or many stocks and bonds, respectively. Vanguard is a great mutual fund company for this kind of thing. Their costs are the lowest, so more of your dollars work for you instead of paying fees. Check out their S&P500 fund or their balanced STAR fund.