I just started college and want to invest some money, how do i start?

Answer 1

As someone who just discovered Robert Kiyosaki's series of Rich Dad books, I'd highly recommend reading or listening to his books, starting with Rich Dad, Poor Dad and Rich Kid, Smart Kid. Before you can be effective with money, you have to understand how it works and what types of thought patterns and behaviours will keep you poor, struggling in the middle class regardless of if you have a good income, and what can help you learn to invest wisely and grow your wealth. This is exactly what Robert's books are about and his writing style includes humour and personal anecdotes which keep it from being a dull snoozer of a read like many financial-related books.

You're never too young to start planning for your financial future. The earlier you start, the younger you'll be when you can retire - comfortably.

Here's Robert Kiyosaki's web site where you can see all his books and other products: http://richdad.com/

Good luck!

Answer 2

Look into penny stocks. You won't lose much, probably won't make much but there's always the potential. Consider finding a good broker and sending him a small sum every month. Tell him to start with mutual funds. or, put your money aside and begin your own stock portfolio with an imaginary $10,000. Buy and sell without any regard to commissions. Try this for 6 months, keep meticulous records, including reasons for each choice you make (to buy or sell). At the end of 6 months see how much paper money you have left. If you are significantly below your beginning $10,000 you know your ability to make good choices needs a bit of practice. On the other hand, if you're well ahead of the game, you may have some real ability. Be honest, no cheating. Or, just put it in a savings account and buy CDs when you can. Good luck. Good thinking.

Answer 3

Pop into a coin shop now and then and simply buy a few bulk silver coins. On a student's budget, you wont want to be investing in big ticket deals, but you wont miss the cost of a few coins now and then. You are too young to be venturing into long term money making investments, better that you concentrate on the education. However, the silver coins could well become your best long term deal (possibly short term too!).

Shy clear of paper chases, confidence rackets, houses of cards etc., which most popular investments may well prove to be in this time of seriously high inflation potential.

In the mean time, the silver coins are a very real, transportable, confidence building and negotiable savings account. Never mind the risk of them being stolen............... better that you fear those who steal from you through legal but clever means.

First build yourself a physical savings, without regard to earning power. Most of today's said "Growth Funds" are only growing thanks to inflation, not true wealth creation. You can concentrate on profit making once you get your degree. A savings that is in true wealth is better to borrow against, than simply borrowing against your birthright. Beware of an excessive debt to savings ratio. If anyone offers to lend you money to invest.........run as fast as you can! ......... away from them!

It worked for me!

Answer 4

Go to E-trade...fill out an application...send in a deposit...in a couple of days you got an on-line account....
NOW WHAT? Go to http://www.finance/yahoo.com/funds
http://www.investopedia.com
http://moneycentral.msn.com/beginnerguide.asp?page=introduction
I would suggest you find info on exchange-traded funds(ETF's) you can get into about three/four different ones for the same as a minimum investment as most mutual funds..............or go right into some kind of safe, dividend paying stock......by the time you graduate you'll have something!

Answer 5

...invest ur money in things any other regular college still will. Your too young to start investing in something of much much importance. Buy clothes.....condoms....beerrrrr.....pay ur rent.....buy food.....get a lab top.....DVD collection....all that gooooooddd stuff.....enjoy it while it last. Have a blast you deserve it. Don't worry you'll have time to get serious in a couple of years......for the meanwhile just explore the gooooodd and fun side of life cuz later on your not going to be having much of it.

Answer 6

Just started college? Invest your money in: clothes, makeup, cool stuff, alcohol.

Then in a couple years down the line you can get serious

;-)

Answer 7

I would start investing in Mutual Funds. At your young age, you would want to be in fairly aggressive growth funds. Many different fund companies out there. I personally invest with Janus Funds.... http://www.janus.com

Answer 8

Open a brokerage account at TD Ameritrade.