How can I invest my money so that I can make more money?

Question

I am only 17 years old but I am interested in investing some of the money that I have saved so that my money will begin to grow. Is there something that I could do?

Answer 1

Explore your world. If you like investing, learn fundamental and technical analysis. It takes hard work to be informed and to get an edge. This is long-term -- I'd recommend Stikky Stock Charts for a beginner in TA, then graduate into more complex indicators. Experiment with some phantom trades before you use real money and see how you do. Use a multiplicity of indicators, and try to integrate fundamental analysis into company stock picks. Then, graduate into options, and NEVER risk it all.

Any financial advisor would agree that you need more risk while you're young, then you switch it over to secure when you grow older.

It looks like you've got your head on straight at an early age. Good luck to you. Plan for the future and set goals.

Republican Capitalist.

Answer 2

You may have to wait until youre 18, but a certificate of deposit is a safe way to go until you get a few hundred thousand dollars. then go real estate. Also put away at least 10% of whatever money you make in some kind of secure investment. Since youre probably not living in your own you can do more. Im adding 12% of salary every month. I dont miss the money that much and that fund is growing steadily. I'll have a million in there by the time im 40! Military service is usually a good way to start out, because for junior enlisted they get most stuff issued to them, eat free, and have a roof over their head free. E-1 makes about 1100.00 a month. that is all money you can do what you want with.

Answer 3

Go to your local bank or sign up with a online brokerage firm.

You should begin saving a set amount each month. Even if you can get 10% returns each year that small investment of $100 a month could end up being worth over $1 million by retirement. Start young and take advantage of compound interest.

http://www.nabloid.com/finance/retirement/

Answer 4

You should put it into a savings account or time deposit(fixed deposit) or invest in insurance or precious metals.You are too young to invest in unit trust and moreover, it carries high risks. Don't spent this money on unnecessary things.Just spend it on your needs. A problem with most people is that they spend unneccessarily, causing them to lose that amount of money in less than 6 months.

Answer 5

It depends on your risk tolerance. For now I would put it into a CD or INGdirect. If you have over 3500 dollars maybe you can invest it in a vanguard mutual fund which is pegged to the S&P Index. www.vanguard.com. If you do this it would be wise to add about 100 each month. The mutual fund and the CD is not as liquid as ING direct.

Answer 6

you are under minor catagory so you have to consult your parents or guardian. Mutual Fund is best thing for investing money. you can get various plans of investments in that.

Answer 7

Yes, first you need to open ROTH IRA account for your retirement.

second
Yes you could learn invest by yourself. it is your money, you should know how to do with it. for starter check this site out.

http://www.pathtoinvesting.org/index_fla...
http://www.stockcharts.com
http://www.streettalklive.com>... university. a lot amount of information. It will serve you well
I accumulate in good amount in 401k at the young age.I could share with you. when consider invest in stock market. you should consider basic 3 things:

fundamental analysis==(economic data,finincial health, management, business model, competetion)>>what to buy

technical analysis==(chart+indicator)>> when to buy

Sentiment/schycho analysis==>>mood of investor, Contrarian point of view.
Market cycle===>> check out book Trader Almanac by jeff hirsch will give you inside stuff
When you combine 3 thing, It is one of the powerful knowledge goinh with you for the rest of your live

At the age of 32. my 401k is amassed 71,000.00 and 30000.00 in taxble account. by follow simple rule