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What type of investments should I get into? |
I am going into college next year and want to put my summer job money into investments. Total $ will be less than $1500. WHat kind of investments will be the best for me. No short term withdrawing forseen. $1500 may not seem like a lot, but think compounding. If you can find something that returns 10-15% a year, that $1500 will be worth around $100k in 30 years. Rather than investing your money now, put it into a savings account and learn everything you can about a few different strategies until you find one that you understand and are comfortable with. Some of the major brokerages also offer "papermoney" trading systems which let you test our various investing ideas without risking any of your own capital. There is way too many scams out there, I suggest that you be very careful whose advice you take and do your own due diligence before joining any business ventures or investments programs. $1500 isn't much money, but if you invest it wisely and add $1500 a year to it, it can be enough to retire nicely on in 50 years. |
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