What are good investments or plans for my future that i should start on now (18 yrs old)?

I collect old money (to try to sell when i'm older), and i'm saving to buy a house. What else should i do?

I also have a savings account.

First off, invest in yourself and get a good education in a major that interests you. If you like money, finance or accounting may be for you. For investing, if you are employed and your company does a 401k match, GO FOR IT! They contribute a match (which means you have to contribute too) of up to 6% of your salary. So contribute at least that 6%, if not more. Think about those tax breaks and how much you'll have in the future. Invest in a diversified portfolio of mutual funds, such as some in international, bonds, US stock, sector funds, and money market funds for stability. You are allowed to contribute (I think this year it went up) $15,000. If you're not employed at all or in a company that offers a 401k, open an IRA, or Individual Retirement Account. You are allowed to contribute $4,000 per year and you can choose the investment company you want to go with (unlike 401ks, where its usually Fidelity or something like that).

One tip: Don't let anyone choose your fund for you, especially a 401k adviser, where they'll make you go into a fund where they get a big commission. Do your research and then choose your funds. A great site to start is morningstar.com.

Good Luck!!!

401K....aggressively diverdify it when you're young.

Try to contribute at least 10% of your salary.

Look into ING DIRECT they have some of the best rates right now. I collect colonial coins and money as well.

I have a vast colleciton myself.

Welcome :)

real estate is best investment ever -- wether buying houses to fix and sell for profit or buying property to rent -real estate - just ask donald trump ------ now all you need is investment money - if you find an easy way to get that let me know please

My suggestion would be to invest some money in a self compunding annuity. It is tax free until you take money out of it and you can just put like 20-30 dollars a month into it and it will build quite quickly. Just make srue not to remove anything from it until you absolutely have to do so and you will have tax free money building off to the side for whenever you need it.

talk to a financial advisor...

savings account won't do you much good cause most accounts of that type have very very low interest rates. you'd end up with less money (value) if you consider the inflation rate.

you could do well with a mutual fund that has a combination of low, middle and high risk investments. Pay yourself every month, even if you can only do $50 until you start working. Don't touch the money till you retire and you could be financially independent.

Makeen,

It sounds like you have already set yourself up with an excellent plan. You will need multiple streams of income, especially as you grow older and want to cut back or retire from your regular career.

If you were to start a business online now, and work on it even 5 - 10 hours a week, it could be pulling in a huge income for you within a few years. You could then begin investing this money in real estate, or some other venture that would add to your income streams, so you would have the freedom to retire whenever you felt it was best for you.

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The best investment you can make at this age is in yourself. Getting any kind of post-highschool education is better than none. Of course college would be the best but even technical schools where you can learn various trades is also very useful and necessary in our society.

The value of an education where you can make 50-60,000 a year verses a highschool diploma where you can only make 20-30,000 a year is immense. The easiest way to think of this it to consider how much it would take to have a bond or savings account that paid you this much interest in a year. To make 50,000 a year, it would take $1,000,000 in a savings account at 5% interest. If you can make that much just from the knowlege in your head, you can see how much it is worth.