Im only 18, saved up 3000. I want to invest it somehow. stocks? mutual funds?

im just about to graduate highschool in June, still live with my parents, and work at bank of america. I saved up about $3000 and probaly will get a little more for graduation.

How should I invest my money? and if I wanted to get Mutual funds and stock... how do I do that?

When I was 18 I opened my Roth IRA and I have never regretted it. I didn't need the money for college though; I was lucky that my parents bought me a car and paid for my expenses during college.

So here's my advice: if you're going to need the money in a year or so for a car, for college tuition, for moving expenses, or for anything else, then I would save as much as you think you'll need (plus a little cushion) in the Vanguard Prime Money market fund (or any savings account earning over 5% right now). The rest, put in a Vanguard Roth IRA. Invest it in a target retirement date fund (2055 for you probably) and forget it exists.

If you don't need savings, open and max your Roth IRA--that
s $4000 this year. You will feel SO ahead of the game when you graduate from college and already have thousands of dollars in your retirement account! I am 23 and now have over $18,000 in my Roth--just from putting away a few thousand dollars that I didn't need to spend every year. I feel so good because I am so ahead of all my peers as far as financial planning goes.

If you're too ambitious, don't fall as the prey of Quixtar or MLM. I found an interesting blog

These articles pretty much cover common mistakes with MLM kinda business
Source(s):

http://tinyurl.com/2o3dpv

I made this tinyurl of http://quixtar-ibo.XXXXXX.com as yahoo doesn't like Google's blogspot url:)- replace XXXX with blogspot for real url

Congratulations on saving so much! Investing is NOT a guarantee of making more money. The higher the potential gain, typically the higher the risk of loss. With $3000, maybe you could put $2000 of it in a CD to make a little extra, and with the other $1000 maybe put it into an 'index' fund (do a google on it). Have a sell point for ANY stocks you buy. Don't fall into the trap of buying at $5 and it goes up to $8 (a 60% return) and then holding on because it MIGHT go to $9. Have a point where (after fees, taxes, etc) you make some percentage of gain.

best of luck to you.

Invest in your education. Put the money in cd's until you can decide what to do that way it will make money for you but you have to leave it in the cd until it matures. You may find that $3,000 will be better used when you get to college, tho. Maybe you could use it to study overseas or to be part of a program in the field you wish to enter.

open a roth account so that you can start saving for retirement in the most efficient tax vehicle, only put in what you do not anticipate taking out (max 4k) and invest that into a fund that has a static allocation done for you. fido freedom funds, american cent strategic allocation, etc

you can buy any of those directly through the company or through a brokerage house.

suggest going online and getting started.

Here is some advice don't tell people how much money you have and how old you are. About the investment try opening some sort of store that's a good investment.

If you want to attend college, stick it in a money market account for your college expenses.

If you are done with school and have no emergency fund, stick it in a money market account for emergencies.

If none of the above apply, then start a Roth IRA with vanguard or fidelity and pick one of their target-date retirement funds. Easy as pie.

For more info about retirement, see my free eBook:
http://www.invest-for-retirement.com

ask your co-worker or call bank of america investment specialist about mutual funds.

Be sure to do your due diligence, study, read about the company or product you are interested in.

For instance I work for a publicly traded company, SBJX.OB and if you were to do the DD on us, you would go to our web site www.subjex.com read the Edgar filing, the company prospectus and read the FMS Abstract.
SubjexFMS 鈥?is a "Forecast Market Software" that forecasts large market indices with an 81% historical accuracy! In 2006 our clients made 70.8% returns on their funds while their funds remained liquid. It is worth a look, I suggest that we send you our weekly earnings review by email, which shows how much our actual clients earned each week. Also we will send you an occasional forecast in advance so that you can see how well the system works.

I would say know what is out there, so you can make an educated descision.

All the bset.
-
lcmjharris
lori@subjex.com

i would put it in a money market account,let it draw interest,then take your time and find something you like,dont jump in to fast,stay away from load funds,your paying the broker right off the top .vanguard has several funds you maybe interested in,i think the market is to high right now .take your time,itll drop

investing is a major risk, the safest investment would be a bank, while you'll get a low return, theres virtually no risk

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