Help! What should I invest my money into that will produce the greatest return?

I'm 20 years old and currently in college. I want to start investing now for retirement. Currently I have 3,000 that I want to invest. After that, I would like to invest a few thousand every year and gradually invest more and more as I grow older. What would be the way to go? I've read that stocks are the best to invest in when you are young. True?

Great! Your well on your way to a million dollars by the time you are 50!

Open up a traditional IRA to start. You'll not only get the benefit of tax deferred growth, but you'll probably qualify for a tax credit too!!!

Now that you have your Traditional (not an IRA yet, you can start this one when you no longer qualify for the tax credit), put your money into an S&P500 index fund. I like Fidelity, but there are many to choose from.

Good luck.
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Stocks are one of the fastest appreciation vehicles that you can employ but it can also perform the opposite way and cause you to lose all your money. For someone who has money and not a lot of time and talent to play the stocks game, I would suggest mutual funds. These are managed by professionals who know what they are doing . A good no load fund that provides an average return of 20% per year would double your money every 3.6 years or so.

The key is to invest regularly , don't be rattled by the market's ups and downs. Let your nest egg continue to accumulate and grow and when you retire you won't have money problems.

Check into blackrock.com . They do mutual funds and more.

Surely, the stock market is the greatest return giving market, as all the mutual funds and life insurance companies do use this way for earning, as u have to go for a long run , a positive and right selection of companies will fetch u best result ever....

Under no circumstances open a traditional IRA, they are worthless, you dont pay taxes on your $3000, but you pay takes on it in 40 years when it is $25000... Brilliant. Open a Roth IRA, pay your taxes now, at a lower rate, and invest in either an index fund so you dont have to worry about it or talk to a financial planner who can keep track of it for you and get better returns.

Your idea is great, Im 19 and on the same path. However, storing you money isn't the smartest. See (if your in America) the value of the dollar is falling, meaning saving money would be a detriment. Why? becuase you can't save faster than the dollar falls. It is falling at like 4-5 percent annum. and you receive about 1-2 percent interest. Here's an example a 20 dollar gold piece and a 20 dollar bill in 1947 would both buy you a nice tuxedo. In 2007 that gold piece will still buy you a tux and a 20 dollar bill won't even buy you a shirt. So basically start researching on interest rates around 16-34 percent return. If you want help there I can point you in the right path. After that I'll have to charge you. O ya, stocks are good, but not the best. Contact me if you want more info.