What types of investment plans are out there for young entrapeurs?

Question

I am constantly wondering what types of investment plans or other forms of investment are out there for young entrepeurs who just want to make quick money legally. Therefore, just prove a full explanation of your opinion. Thank you.

Answer 1

There is no such thing as real quick money. I think stocks are pretty good tho. "Compound interest is the eight wonder of the world" Albert Einstien

If you take $1000.00 and invest in stocks and get a interest rate of 24% for 30 yrs that money will be over a million in 30 yrs. It is the same trick as taking a penny and doubling it each day for 31 days. You will end up with more than 20 million.

There are also some quick profits in stocks. On monday this stock (CHNR) was selling for less than $16 dollars now 2 days later it is selling at $39 dollars. But invest for the long run and when you are older you can spend and spend and wont run out.

Answer 2

A Kun Fu quote, "Understanding the question is more important than having an answer." What is a young entreprenuer? Let's say a 20-year old person.
(I will not ask how much money we have to invest.) I will go directly to the basics. (By the way, I like the answer that points the most fundamental rule: There is no legal way to make quick money!) This is in line with the basic investing rule that "No one can beat the market", (excluding the very few Warren Buffets of Wall Street., who may beat the market sometimes).
Undesrtand the options first: from Money Market accounts paying 5-6% currently to the long term performance of an index such as S&P in Wall Street - the stock market, where you can buy indexed mutual funds that based on performance history may get you 10-12% annual return. What does this mean? Let's say you start an IRA, a 401K, a retirement fund, etc., investing $10,000 (assuming you do not invest a cent more, for simplicity sake) in an indexed mutual fund. Every 10 years at 10% (10x10%=100%) your money will double (10, 20, 40, 80, 160). If you include the effect of periodic compound interest, plus regular monthly investment or contributions to the plan, most disciplined individuals could attain a retirement objective of a million dollars in 40 years. Our "young entrepreneur" will be able to retire at age 60, with a $4,000 monthly distribution while collecting $1,000 a month from SS (if SS does not bankrupt), and still pass million bucks to the heirs. Wow, A lot of IFs! I recommend everyone to read Charles D. Ellis' "Winning the Losser's Game". (For understanding of terminology, please reasearch the Internet). Do not stop dreaming, ever (and working at it)!

Answer 3

An entrepreneur, by definition, is someone that starts there own business. The best investment for a true entrepreneur is their business. No form of investment has an age restriction. Young or old, your options are exactly the same.