Cover image for Mad cash : a first timer's guide to investing $30 to $3,000
Title:
Mad cash : a first timer's guide to investing $30 to $3,000
Author:
Modu, Emmanuel.
Personal Author:
Edition:
First edition.
Publication Information:
New York : Penguin Books, [2003]

©2003
Physical Description:
xiv, 226 pages : illustrations ; 23 cm
General Note:
Includes index.

"A Perigee Book."
Language:
English
Added Author:
ISBN:
9780399528965
Format :
Book

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HG4527 .M57 2003 Adult Non-Fiction Non-Fiction Area
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Summary

Summary

Emmanuel Modu and Andrea Walker know their business. As the authors of TeenVestor®and the creators of Teenvestor.com, they're now sharing their advice in a book that explains when, where, how, and in what, to invest. For young, beginning, and hesitant investors, this invaluable resources offers advice on: € College savings, mutual funds, stocks and investment clubs € CDs, U.S. Savings Bonds, and IRAs € Avoiding scams and recognizing common investment risks € Requirements for Direct Investment Plans-from American Express to Wal-Mart € Tax--advantaged investment options


Author Notes

Emmanuel Modu is a vice president at a major bank in New York City, a former Citibank vice president and Merrill Lynch senior treasury analyst. His work has been featured in such publications as Forbes, Investor's Business Daily, The New York Daily News, The Newark Star Ledger, Morningstar.com , and BusinessWeek Online . He is the author of The Lemonade Stand: A Guide to Encouraging the Entrepreneur in Your Child . Emmanuel holds an MBA from the University of Pennsylvania's Wharton School and a BS from Princeton University. Emmanuel and Andrea Walker are married and live in New Jersey. They are the founders of the teen investment website www.teenvestor.com.
Andrea Walker is an attorney in New Jersey. She is a graduate of Princeton University, The George Washington University Law School, and Seton Hall Law School. Andrea has appeared on CNN, CNET TV and other national television and radio stations. Emmanuel Modu and Andrea are married and live in New Jersey.


Reviews 1

Publisher's Weekly Review

For as little as $30, anyone can try their hand at investing, say Teenvestor authors Modu and Walker. Building on their previous book, the husband and wife team (he's a former v-p at J.P. Morgan Chase and Citibank, and she's an attorney) explains the basics-and some advanced techniques-of investing money in money market accounts, stocks, mutual funds and more. Targeted at the under-18 investor, Modu and Walker's advice is appropriately youth-oriented. For example, the section on goals asks readers if they're investing to save for a college education or a new car, or if they want to have "$100,00 by age 33." A chapter on savings distinguishes between "plain-vanilla savings" (e.g., savings and checking accounts) and "spiced up" savings, such as CDs. Throughout, the authors explain concepts like index shares and profit margins and include worksheets and sidebars listing Web sites to help the younger set manage their finances. (Aug. 5) (c) Copyright PWxyz, LLC. All rights reserved


Table of Contents

Introductionp. ix
Part I Ready, Set, Invest
1. Scoring Some Goalsp. 3
2. Money Multiplication through Compoundingp. 9
3. Know the Downsidep. 15
Part II Stashing Your Cash
4. Plain-Vanilla Savingsp. 29
5. Spicing Up Your Savings with CDs and Money Market Accountsp. 35
6. Credit Unions: The Alternative to Banksp. 39
7. Shopping for the Right Accountp. 43
Part III Taking Stock
8. Look Before Diving into Stocksp. 53
9. Investing in Stocks, Step by Stepp. 71
10. Buying Stock Directly at the Sourcep. 89
11. Direct Investment Plans, Step by Stepp. 97
Part IV Having Some Funds
12. The Goods on Mutual Fundsp. 105
13. Buying Your First Mutual Fund, Step by Stepp. 117
14. Exchange Traded Fundsp. 127
Part V Money for Reading, 'Riting, and 'Rithmetic
15. Money for Collegep. 135
16. Choosing a College Savings Plan, Step by Stepp. 147
17. Coverdell ESA--Saving for Kindergarten to Collegep. 159
18. Investing in the Coverdell ESA, Step by Stepp. 163
Part VI Looking into the Future
19. IRAs--Not Just for the Old and Grayp. 169
20. How to Save with Roth IRAs, Step by Stepp. 173
21. The Patriot Bond and Its Cousinp. 177
22. Buying U.S. Savings Bonds, Step by Stepp. 187
Appendix I Show Me the Money!: Two Prominent Company Scandals Explainedp. 193
Appendix II General Requirements for the Direct Investment Plans of the Companies in the Dowp. 197
Appendix III Excerpts from the Prospectus of the Vanguard 500 Index Fundp. 206
Appendix IV For Your Parents: Table for Comparing Tax-Advantage Investment Options (IRAs, College Plans, Coverdell ESAs, Custodial Accounts)p. 211
Appendix V Websites/Publications/Servicesp. 214
Indexp. 221