New life help?

Question

ok I am 12 and my life is not going the way i want it to go.I want to get in to so many things, but I dont know how.Cooking, Muay Thai{Thai martial art}, and working out are some of the things i want to get into.I just do not know how.Also I am starting a new school and I do not know what to expect.How should i dress and stuff.I am also getting into some money 700 or 800 dollars if everything goes smoothly.I am not your typical 12 year old I want to invest my money into stocks and bonds.New life need help

Answer 1

Since you are 12, you have quite a lot of time ahead of you to learn all that you want. The best thing for you to do is take it slow. Don't worry about how you should dress for your new school. Dress somewhat simply the first day in something you feel good in and see what others are wearing. Check to see what activities your school provides and get involved in one thing. Concentrate on your studies and making a few good friends. When and if you get that money, put it into an account that your parents approve of and then forget you ever had it. Let it sit and grow till you need it for college.

Most of all, relax and stop stressing. Stress is not a good thing for you. Be a kid and enjoy it.

Answer 2

Good for you. Sounds like you are indeed, not a typical 12 year old.

Find your local Community Center and sign up for a cooking class and a Muay Thai class. Or, if that isn't possible, try the YMCA for Martial Arts class and a Gourmet Cooking store for the cooking class.

As for starting the new school, I understand how you feel. We moved to a new state when I was beginning 9th grade and was very nervous. I would dress kind of average and comfortable on the first day, then check out what the kids are wearing who you want to be friends with. I am sure it won't be very different than what you have. You'll fall right into place in no time at all.

Investing money? You need to have a parent take you to the bank. I'm with you - a savings account is a LOUSY place to invest your money, and that is probably what the banker is going to advise. Politely say that you want to invest your money in a long-term, high-yield account. I advise a Certificate of Deposit (called a CD). How that works is - you deposit your money into this account for anywhere from 6 months or 1 year up to 10 years, and it earns MUCH MORE interest than a regular savings account. You cannot take the money out and spend it for whatever period of time you have agreed to invest, but when that time is up, you'll have a big chunk of extra money that the bank has paid you. That is called INTEREST. And it is all profit, it's what you earned by depositing your money. I would suggest 1 year. Now, because you are only 12, you will have to have a parent or guardian join you on the account, he/she is called a Co-Signer.

If you want to invest in bonds, GREAT! There is a bond called a Triple E (or EEE) bond that is used for college...only for college. And how that one works is - you deposit your money (just like for a CD) until you get to college and it earns interest, and you and your Co-Signer do not have to pay taxes on the interest the bank pays you until you take the money out and use it for college. (Taxes must be paid on all other interest paid by the bank).

Okay, that is a lot of information. What I advise is that you put on a nice, clean outfit (like you were going to a business meeting, because after all - that is what this is) and have your parent or guardian take you to the bank and discuss all of this your banker. By banker, I mean whoever the teller or receptionist directs you to when you tell them that you want to open an INVESTMENT ACCOUNT.

I wish you the best of luck. I certainly hope I have helped you.

Answer 3

Woo! Relax! Everybody's adolesent years are awkward. Most people don't figure things out for at least another 8 to 10 years. Also, you can't invest. You have to be 18 to do that. Put the money away for a rainy day instead and don't brag about the loot. The less people who know you have that much money the better. Remember, as a minor you don't have the same rights as an adult. Don't be scammed.