What are some good ideas for a teenager who wants to save money for the future? I'm looking for any ideas as to what to invest your money in or anything on saving money for the future. Any ideas would be appreciated.
2007-02-16 22:00:10 · 3 answers · asked by donaldblake2007 4 in Business & Finance ➔ Investing
go 4 balance / commodity mutual fund
2007-02-17 03:36:52 · answer #1 · answered by dinu_pawar 5 · 0⤊ 0⤋
is this your economics instructor? analyzing? historic previous? Do you artwork? the suited answer on your Q is a Roth IRA; whether, you like earned earnings to open a Roth. in case you have a job, seem into it. EDIT: it incredibly is conceivable that the human beings analyzing this Q & A have 0 clue approximately investments. The link under will divulge the eligibility for classic and Roth IRA contributions. the reason a Roth is such an mind-blowing investment for an adolescent is which you in all threat do no longer make sufficient money to be taxed. So your earnings is tax loose. yet, the Roth accumulates pastime over 50 years this is likewise tax loose. help your self with the help of calculating the destiny fee of $a million,000 place in a tax loose account for fifty years at an properly-known of, say, 4% pastime. What you're having access to is the potential of compound pastime. unfavorable - loss of liquidity.
2016-09-29 05:41:57 · answer #2 · answered by ? 4 · 0⤊ 0⤋
If you save up a couple hundred dollars ($500 is probably the minimum for buying one position, and it is the minimum for Scottrade, which is a highly recommend discount broker) you would probably be wise to invest it in a broad market ETF, especially if you are new to stocks and don't feel comfortable picking individual ones yet. You can learn a bit more about ETFs and their function in a portfolio from this article: http://www.valuestockreports.com/021907.htm
2007-02-20 19:19:56 · answer #3 · answered by Anonymous · 0⤊ 0⤋