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I want to invest my money that i will make at my job(16 years of age)? |
When i get a job at 16 (im 15 now) i want to invest some of the money. How should i go about doing this? What is the optimum method i can use or stocks i can invest in? In general, what is my focal point at this time and age? 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. You are probably too young for tht right now i think your best bet is to keep it all in a savings account in a bank until you are old enough to know exactly wht you will want to do with them.But it is very good tht you are thinking right in tht direction.! If you are talking long-term, the best investmests (Low risk/decent return) right now, I think, are I-bonds and silver coins. Good for you for choosing to invest and to start early!! Get in the habit of saving money every month and you will retire rich. Put it in an interest savings accout. As long as you keep it in there, your savings will keep growing!! |
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