The Royal Bank of Scotland stock is my experiment in long term stock. Of the $1000 we got at Christmas, half went to the Royal Bank and the other half was invested in stocks. Royal Bank of Scotland has huge dividends (8%) which would make it good for the long term. Stock prices historically are generally up. I set it up to re-invest the dividends. The first dividend should be on March 31.
As of now our porfolio has more than what we started with, even with the few early mistakes I made. I would recommend that people start investing as soon as you can. I like Scottrade and it only takes $500 to get started with $7 trade prices. If the social security changes that are being talked about happens, being comfortable with investments will be good. Investing is a good way to make money without too much effort. There is also Firsttrade which has no minimum for opening an account (which is nice) and just under $7 per trade. Or Choice Trade, which I'm looking at going with for my personal investing. It has $5 trades, no minimum to open an account and no inactivity fees. You don't want inactivity fees and low trade prices are good, especially if you are not starting out with much. I was on ShareBuilder, which has only $4 trades, but you could only trade on Tuesdays and got hit with a $16 fee for selling. I could have actually made money on the Sirius stock if I could have bought when I wanted to. But you want to start with enough money so you are not forced to buy very low priced stocks or get stuck with 1 share in something. Then the price has to go up unrealistically high in order for you to get your money back.
Plus they have some pretty funny commercials on the business shows. A woman is in a bank and says she wants to trade on margin. "You want to trade...butter?" "No, trade on margin." "Oh, I thought you said... wait a moment. Hey, Bloated Fees (large guy eating), what's the current margin rate?" "Well, Useless Overhead, it's 8 and a half. No, nine." "Oooh, nine." Woman: "But that's as high as a credit card!" "Yeah, isn't it great!"