Investing money

Has any one tried playing in the stock market?
I have some money saved up, and I really want to have a phd in biology.
Does any one know if you can invest in mutual funds as an undocumented immigrant.

I had an invesment account, but I REALLY FUKKED IT UP ...hahah , long story short, my account was closed because I had a margin account and didn't know that I had to put more money because I was loosing money, so since that account is closed I cannot open another account anymore since they do ask for your green card and stuff, I made that account when I was small so they thought I was a united states citizen.

You should try going to Vanguard.com. You can sign up for an account online. I got one a while back, but I can't remember if they asked for my social security number or not. If you don't have the information they ask for, though, you could simply stop your application.

Yeah, because everything you make even of investments gets taxed. I thought perhaps I could use my tax pin but I don't know if its a good idea.

You should try it. Honestly, I can't remember if they even asked for a SS #. I doubt that anything would happen even if they found out your # was and ITIN or whatever. You might be able to try to set up a money market account at your bank if you can get a local bank account.

You can do it and it is legal to use your ITIN. You can be a foreign investor in the US, and pay your taxes overseas. You're still stimulating the US economy this way.

Well I guess I will try to open one up.

how much money do you have to invest? if its less than 100k better to keep it in bank.

stock market isn't something you just make money off of.

I have been involved with the stock market since 1999, I have made, and lost money. There are many ways to make money, lose money with stocks. The smartest financial people in the world are involved with the stock market, just so you know you need to be aware of what you are doing or you will lose everything. Honestly, I do not know if you are able to open up a NEW account today, because of all rules-changes that has been going on since I first got involved. The easiest way to find out is go to any broker company, such as etrade.com, and try opening an account. Once you open the account, you need to fund the account. Once you fund the account, you can invest the money in whatever you feel will best meet your objectives. You can buy individual stocks (risky), or you can play it safer with a mutual fund (professionally managed and picked basket of stocks). Risk and expected return are connected, so the more return you seek, the more risk you will have to take.

I'm just seeking something to replace a savings account since banks can't really help your money grow. I plan on investing around 10k or less on a mutual fund.