Did you ever do this during school?
In my economics class, we played a stock market simulation game. We had $100,000 each to "spend" on stocks. We consulted the newspaper, chose companies we knew of, and bought some shares on paper.
Periodically, we checked our progress. Some of us lost quite a bit, but others did really well.
Recently, I signed up for an online version of a stock simulation.
Wall Street Survivor gives you $100,000 to invest. Prizes are awarded for top earners. One person is up to $400,000+. Uh, whoa. I hope he or she is investing real money as well.
My portfolio is down $7,000. The competitor in me is a little bummed, but hey, it’s not real money.
Aside from retirement accounts, we’re not ready to start investing in the stock market. So, now is a great time to play with fake money to get a handle on how it works.
Do you have a fake portfolio? Have you done that in the past?