I am a male teenager.
2006-06-16 15:17:25 · 17 answers · asked by Peter 1 in Business & Finance ➔ Personal Finance
Ask your parents to invest it in money market accounts like CDs or money market funds so that when you want to buy a car, your $1000 today can worth more in the future.
2006-06-16 15:25:55 · answer #1 · answered by Anonymous · 2⤊ 0⤋
Open a Roth IRA~it is can sit there until you retire or you can
use the money to pay qualifying college costs, take out up to $10,000 for a first-time home purchase, buy health insurance while unemployed, or take a series of substantially equal payments (based on life expectancy) for at least five years and until age 59 1/2.
At your age, you can start an aggressive growth fund which can make you a nice nest egg if you make contributions each year.
2006-06-16 15:19:31 · answer #2 · answered by soplaw2001 5 · 0⤊ 0⤋
You are young, invest your money, if you can't do it on your own get a parent to open a custodial account for you. If you don't know much about how to do it use the internet to learn. There have been many times when I say to myself, "If I only knew back then what I know now." About investing, when I was young, I would be in a much better place. Put your money to work as an employee. Use your money to make money. It's not hard, it just takes a good serving of want-to and common sense.
2006-06-16 16:12:19 · answer #3 · answered by Anonymous · 0⤊ 0⤋
what do you want the most? That is what I would buy with a $1000. But make sure you won't be one of those people who get super excited and can't wait to get their hearts desire only to say when they get out into the parking lot with the sack still in their hands, I should of gotten ...........instead.
think this on through and shop and look and then try and then wait a minute or two to really see what it is you are wanting in reality to your life. and if it all fits great , it is a go!
2006-06-16 17:30:53 · answer #4 · answered by Anonymous · 0⤊ 0⤋
I suggest you to open a Guardianship Account at TD Ameritrade and invest in the Stock Market with the help of a Financial Advisor.
You will need some money to go to College.
2006-06-16 20:54:49 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Peter, Love save it for something that you truly need. Don't waist it on something that will only be a waist of money and of little importance to you now. That money can be used for a down payment on a car or maybe something else later that will be of use to you for a long time. Think b4ubuy and you will come out ahead in the long run.
2006-06-16 15:22:00 · answer #6 · answered by mommablurose 2 · 0⤊ 0⤋
Lots of people are gonna say invest it, but that's no fun. You could buy a used car, a used motorcyle, (and the licenses of course) A new leather jacket, tons of new clothes.
Or (boring but sensible) buy some college text books.
You could always take your girl somewhere or buy her something nice.
2006-06-16 18:02:19 · answer #7 · answered by peach_campbell 3 · 0⤊ 0⤋
Go to the airport and hop a flight somewhere really random. Bring a camera and take photos of your experiences. Chicks dig guys who are spontaneous. Take a friend even.
2006-06-16 15:22:07 · answer #8 · answered by Alicia 2 · 0⤊ 0⤋
Are you still living at home and wanting to move out then buy things you will need to be on your own and not expect parents to do it for you.
2006-06-16 16:31:06 · answer #9 · answered by fanonebrowns 1 · 0⤊ 0⤋
If you have any bills pay those first, then what is left open a savings account and do not touch unless you really need it. You will be glad you did
2006-06-16 15:25:12 · answer #10 · answered by pumpkin 1 · 0⤊ 0⤋