Smartest way to invest my money?

Question

I will be starting my first year of college in about two weeks and I wanted to know the best way to invest my funds. I practically have no expenses except for day to day food. I have a full ride scholarship to my university which covers my tuition and books.

I will be receiving about 3,500 excess financial aid EACH SEMESTER which basically goes to my pocket. ($2000 of it is pell grant and $1,500 is a federal stafford subsidised loan) the reason I got the loan even though i didnt need it is because i figured i can invest it, along with the pell grant money in a CD or high intrest savings account (since i wont be incurring interest on it until i graduate) My question is how specifically should i invest my money? Should i put it all in a CD? or maybe a HSBC savings account (5.05 % APY) what about mutual funds, stocks, anything else?

I know many will say to invest in all of the above, but how much should i invest in each?

Thanks A Lot!

Answer 1

HSBC savings account, cd rates are not very different and you can never know what will come up.

Answer 2

If it have been as much as me, i could positioned it in a various portfolio of shares, ETFs (varied money), and authentic components or advertisement REITS (authentic components investment Trusts). This portfolio could be geared for dividend re-investments for great long-term good points. i wouldn't in any respect touch a quickly foodstuff franchise at the style of youthful age, as you're lots extra possibly to lose all of it very straight away. you're superb to place it away on your destiny and attempt to no longer think of roughly it. in case you're in college, stay at homestead hire-loose and stay off of section-time artwork or "allowance". once you graduate, stay off the wages of your activity and artwork your way up and finally upload on your portfolio. 10 years or so from now, you ought to use it for a huge down charge on a house or another properly-researched challenge you elect for to pursue. For now, $100K+ feels like a lot of money to you, in spite of the undeniable fact that that's squandered very straight away in some years of being a spend-thrift... somewhat in case you haven't any longer have been given any earnings.