i'm 13 14 in may i got a bunch of money and i'm not sure if i should invest in something save it or just buy something really cool
2007-01-14 05:36:13 · 4 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
No time like the present to get interested in YOUR financial future, and no time like now to learn and even teach yourself a few things.
You can even get stock directly from companies. Check out "direct purchase plans" on the web and see if there is a company that interests you. Simply call them and request their prospectus and investor package, ITS FREE !! You will need a custodian to sign with you on these stocks since you are under 18 but the money will basically be YOURS.
Why not spend it on something that will MAKE you more money? !!! Invest it !!!
Good going on asking this question, it appears you are interested in your future and that is more than alot of kids are doing right now !!! *high five*
: )
2007-01-14 05:48:07 · answer #1 · answered by Kitty 6 · 1⤊ 0⤋
Why not do a little of each? If you get into the habit of investing a little bit of your money regularly you can make yourself very rich!
Start now! Best thing you can ever do for yourself. Save a little for a rainy day or a bigger purchase such as a car. And spend a little on something cool. Gotta live now! Have a nest egg, but make yourself an omlette every now and then. Why not figure out how much to do of each? Maybe half to invest, a quarter to save and a quarter to spend. Maybe a third each. It's your choice. You have the power! Keep thinking this way and you'll do a million times better than most people. Good luck!
2007-01-14 06:48:29 · answer #2 · answered by Big R 6 · 1⤊ 0⤋
You should invest it. I don't know how much money you are talking about, but if you leave it alone until you are 65, you might have a nice nest egg.
But at your age, I could see why you would rather spend it on something cool.
Just remember whatever you buy will be rotting in a garbage dump in a few years and you might need the money then.
Read the linked article about getting rich slowly.
2007-01-14 05:43:17 · answer #3 · answered by Anonymous · 1⤊ 0⤋
Save and Invest!
Then spend at retirement
2007-01-14 06:26:24 · answer #4 · answered by traderb550 3 · 0⤊ 0⤋