Best investment for a 17 year old?

What would be the best investment that a working 17 year old can make with his/her money?


Rather then spending money the second you get it.

You will have to have your parents set it up for you as you are a minor, but invest in a mutual fund account.

That is very mature for 17. I wish I could introduce you to my daughter.

Invest in yourself, start your own business.

Check out the book "The Motley Fool's Investment Guide For Teens." I think it will best answer your question! Good luck!

Education.
Put it somewhere secure for your education.

You're 17.. You can afford risk..

You know more than a room full of analysts about teen trends..

What are you and your friends buying all the time..? (clothes, shoes, from which retailer..you get the idea)

Who makes/sells it ?

Are they a publicly traded company..? If so, BUY THEIR STOCK .. Go set up an account at Schwab or Scottrade or TD Ameritrade. It'll cost ~$10 per trade.. Dont buy them all at once.. Buy a few at a time..so you get the advantage of dollar cost averaging.. Over the period of a year, you'll do well.

BTW, if you and your friends stop buying the product..SELL THE STOCK !

See..? It's simple !

Good Luck

ED

Above is my opinion, not advice. Do your own homework.

invest in three kangaroos and one flying koala. it was the best investment i ever made. i'm a millionaire and i'm 27 years old. if you keep the kangaroos at 32 degrees celsius in a room that is 42' by 37', and you bathe the koala in your aunt's saliva at 3:22am every day for 10 years, the flying koala will lay eggs for you that are made of solid gold. the 45th egg will contain a leprechaun, so you have to crack it open and cross-breed it with the kangaroos. you can name them whatever you want. i call the "leparoos", but it's your choice. you then have to send them into space, where they will find you moon rocks which you can sell for a fortune on ebay. try it. it works.

Well it depends. What do you want to do? I'm going to invest in my own small business that makes all natural pet clothing and possibly a small organic baby clothing business. This means I need a ton of yarn and to work my butt off. My goal is to make $700,000 by the time I am 22 (I am 17 now). Then I plan on moving to a converted barn in England and starting my own health shop (selling all organic and fresh baby foods and clothes, pet foods and clothes, soaps, and more). For now I will hold a job at a store.

First thing is first. Get an education so you ALWAYS hold a plan B. Mine is to become a vet tech with a degree in child development. Plan B is to work in a vet hospital and possibly a day care center on the side. Even then I still have Plan C which could be splitting up plan B. Just remember don't put too much money into anything.

Good Luck!

EDIT:
If you want to put money into something besides education remember to start small and work your way up.

Right now you can think long term. You can afford to take some risk - actually, quite a lot. But you need to think about liquidity, too.

Diversify. If you are paying taxes, open an IRA. You have two choices: a regular one that is before tax money (so you deduct it from your income when you file) or a ROTH IRA that is not deductible but when you mke withdrawals, they aren't either.

Look at mutual funds. I have Fidelity; my wife has Schwab so we can hopefully do well in at least one if not both. Make sure they are no load funds; unless the return is stellar, your profits can be eaten up by the fund or broker's fees.

College plans? The old standby Savings Bonds can be cashed in tax free if you use the proceeds for educational purposes.

For liquidity, go to a credit union and open a money market saving account. You'll earn better interest than a straight saving account. Might have to have a certain minimum balance, tho'. Start thinking about CDs. You want to invest in them periodically so that one is coming up for renewal every month or so. Then, if you need the funds - say you have to repair your car - you'll have the cash available. Longer terms mean higher rates - generally. But watch out for specials - grand opening, anniversary deals, any type of promotion by the local credit unions you qualify for membership in. Be careful at some banks that promise a good rate but then you find it takes a huge minimum or you must have your savings, checking and car loan to qualify for the rate.

Sounds like you want to take care of your money which few people of any age are doing.

Building nest egg can have other benefits. Later on when you want to get credit cards or debit cards, you will have a positive report. Also, at credit unions, savings can be used to get a "share secured" loan which is often only 2 - 3% over the rate you are saving at. Cheap money.

Good luck.