Can someone help me with how to invest my money?

I am a 21 year old college student, and I have lots of trouble saving since I go to school full time. I decided to go back part time, and work full time to get back on the right track. I am going to have lots of loans after school, and I was thinking it would be wise to invest my money. I was planning on taking my tax refund (it should be about 500) and investing it. I dont understand anything about investments, but would like some points of view and advice. What are CD's and how do they work? any advice would help. Thanks!

There is no mystery to retiring wealthy. There are FOUR simple keys to do so. The first two are TIME and DISCIPLINE.

At 21 you do have Time, if health and life permits. From your purposeful decisions and studies to date, you seem to show a sense of discipline. Therefore, you do have the first two keys.

The third key is KNOWLEDGE. Very sensibly, this is what you are seeking. You must know what to do; where, when, why and how to do so as to minimise risk and maximise returns on your money. The latter, of course, is the big issue: money. Money is like the "lock" to which the keys must be applied. A little "lock" is better than no "lock" - no pun is intended.

Therefore, you must sit down with pen and paper or on an Excel worksheet record all of your monthly, annual, occasional and periodic expenses to arrive at your total annual expenses. Subtract this total from your total annual income after all statutory deductions at source. You will now have a budget and the likely sum available for investing.

Is this sum more than 10% of your gross (i.e before statutory deductions) income? Then you can safely invest 10% of your gross in the highest yielding 100% secured investment option available.

Currently there are 100% guaranteed plans that earn a fixed 7% per annum for nominal sums that can be added to on a monthly or other periodic basis with amounts of $100 or more monthly and still earn 7% p.a..

There are many young and not so young people who have the TIME and DISCIPLINE and KNOW what to do, but are they doing it? No! They procrastinate or they do not maintain their budget. Thus, the fourth key is DECISIVENESS. It's like the Nike ad: "Just do it!"

Once you have built up some cash holdings you can begin to look at very many other options. It would also be useful for you to know and befriend a competent and experienced financial advisor.

Above all else always remember to diligently seek after fellowship and intimacy with Jesus Christ; learn more of Him and sing to and talk to Him unceasingly. This really is the Master Key. God lives and as we draw near to Him, He will draw near to us, guide and protect us and enable us to be victorious in life.

Kind regards

CD's are not a bad investment start for someone your age. They lock your money in for a certain time period and give you a guaranteed return. The return is usually smaller than the stock market, but more than what a regular savings account would give you. You can get a CD at any bank and you can find ones with higher interest rates online.

If you really want to try investing with bigger returns, try the stock market. Now is a great time to buy into the market because stocks are nearing their lowest point in a while. You can get an on-line account at E-Trade or Scottrade and buy and sell shares on there. Read a book on stocks before investing. You will learn how to watch a companies earnings, balance sheet and management in order to make a decision on which stocks to invest.
I will give you a tip to start out. Make your first investment Quantas Services - stock ticker symbol PWR. This company builds and repairs company infrastructures and networks. They are always gaining new contracts and they earnings will rise significantly over the next year because of new business in the Northeast U.S. It is currently trading at $22/share but many experts expect this stock to close at $35 by the end of the year. This is a 60% gain. These numbers will come in and when they do, you can turn that $500 check of your into $815 as easy as that.
Do your homework, invest wisely and good luck with the rest of school!

Always bet on black...

Read "Investing For Dummies." Its a great intro book on the subject - easy to read and covers all the basics.

The stock market is by far the best return for your money. First invest some of that tax return money on a good book on technical and fundamental analysis. Sounds complicated but it's not. Over time it will become one of the best financial decisions you make.

Your first option should be to fund fully a retirement account. If you do this, and you have extra cash, then one of the best things you can do is open a DRIP Plan.

Go to : low-cost-stock-recommendations

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Click on the "DRIP's" Button on the Navigation Bar

These powerful investment plans are seldom talked about because brokers make very little money when they suggest them. Yet, they have proven to be one of the best, if not the best, long-term strategy on Wall Street.

They are perfect for small investors, as well as big investors. They are safe and allow you to not care about whether the market is going up or down. They are a must for any serious investor.

If you decide you are interested in DRIP Plans, click on the advertisement on the same page "$4 to purchase stocks". This will answer your next question, which is, How do I get started? and what is the least expensive way to get started?

I strongly recommend looking into it. They are great plans.

Good Luck

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