Any information would be helpful thanks.
2007-12-16 14:28:32 · 9 answers · asked by Melissa S 2 in Business & Finance ➔ Investing
If I was you I'd invest my time in school work. Good luck.
2007-12-16 14:34:12 · answer #1 · answered by Ace Librarian 7 · 0⤊ 0⤋
Put it in a money market or IRA account. If you're under 18, you have to have a parent custodian on your accounts. So you should just ask them to help you on that, then when you turn 18, start worrying about stock investing, and all that stuff. Concentrate on finding a career so you can make the money you need to invest in stock or business for yourself. Great that you're thinking about it now though, because time really does exponentially increase your investments, so the more you have, the better.
2007-12-16 15:01:20 · answer #2 · answered by trancevanbuuren 3 · 0⤊ 0⤋
Just save money in a savings account until you make your mind up on where you want to invest it.. otherwise it's the same as losing money.
I have another bit of advice: DO NOT LET THE IRS WITHHOLD TAXES from your paycheck, even if you will get it back. It's like lending money to the government, except they don't pay you interest. Buy a CD or just put it into a savings account instead until you are ready to commit to something.
Hope things work out for you.
2007-12-16 14:33:56 · answer #3 · answered by Anonymous · 0⤊ 0⤋
I would start out looking at CDs. Generally I avoid these as they are not nearly as liquid as I would prefer and their rates are too low...but, it would be a good idea to get your hands around the investing world by learning to put your money in something that will yield a return but makes it hard to pull out without penalties.
Then, you will have the discipline to look into investing in stocks.
2007-12-16 15:26:06 · answer #4 · answered by Kiker 5 · 0⤊ 0⤋
How much? For what purpose?
Are you saving for a short term goal, or retirement?
You are probably best off in a money market account or CDs if you are simply sticking moneyu aside and can leave it alone for 6 months or longer, but not for retirement.
2007-12-16 14:32:23 · answer #5 · answered by Anonymous · 0⤊ 0⤋
An Orange account from ING.
It's almost as high yield as T-bills, you can withdraw the cash whenever you want. No risk and the highest yield you can get.
2007-12-16 14:37:42 · answer #6 · answered by thedavecorp 6 · 0⤊ 0⤋
Invest in your education.
2007-12-16 14:33:22 · answer #7 · answered by soopa_villains_2003 1 · 0⤊ 0⤋
Put your earned/saved money into an ING account.
2007-12-16 15:02:43 · answer #8 · answered by gem 3 · 0⤊ 0⤋
assuming you dont need it for college; put it in a roth IRA-you will thank me when you are older
2007-12-16 14:45:40 · answer #9 · answered by alydar 2 · 0⤊ 0⤋