investing $200 or maybe a little more in something like stocks in short time period?

Question

ok i'm a 18 and my question is i want to invest my $200 in something maybe like stocks or something in a short time frame like months. should i do mutal funds,cds, but i can't take them out until a year. i'm looking to make my $200 hundrend dollars to maybe $400 hundred in short period monthly time how would that be possible. is their anyway or any books(free books online ) or something about investing your money into something. i don't have lot of money but it's spare money i could waste on junk like normal teen but I'm trying to be ritch before my 20's lol. but for reals someone please give me a site or leave email t explain to me about stocks and investing please. ok thanks bye. I'M NEW AT THIS INVESTING.

Answer 1

I applaud you wanting to invest, but doubling it in just a few months is virtually impossible, especially with this small amount.

Even at a discount broker, the instant you make your first trade, you are down $7 - $12 on the trading fee. Unless you magically find some stock that will double, and the rest of the market misses it, it just ain't going to happen.

Your very best bet is to use that money to start some sort of business, to make more money. Hopefully doing something you know how to do or are good at.

Your second best bet is to put it into a savings account and keep adding to it. Once you've got a tidy sum, start investing regularly in some low cost mutual funds. You won't make a killing rapidly, but you'll be well off a lot sooner than most people.

Answer 2

I would advise buying a bank certificate of deposit. It's insured by the federal government.

If you invest in stocks, there is no guarantee of a return, in fact, you could lose money.

You want to double your money. That's a pretty high rate of return. As a general rule, only the riskier investments have a possiblity of that high a return.

I wouldn't invest money in stocks until you have more saved up. If your going to invest in stocks, you need to have enough money to diversify your investments.

I'm sure there is plenty of info online about investing. Just be wary of seeking advice from people who are selling something. They have an interest in making their particular investment seem like the best. Also, if your willing to buy it for about $15, or you can check it out from the library, there is an Investing for Dummies book , that gives good info and advice on various investments.

Answer 3

You can't make that sort of profit in a few months. I would suggest you put the money in a short term deposit at a bank, if you need to access it in a few months. The best thing would be, if you can make regular contributions, is to invest it with a good management fund. This will give you long term growth, but be aware of managemant fees.

Answer 4

Save your money 200 bucks isnt going to get you anywhere wait until you have at least 3000