17 year old investing?

Question

I've been working for about a year and a half now and have already saved up about $10,000 in my bank account. I took an investing class last year in school and would really like to get it invested sooner or later. I've been hearing mixed opinions about the current state of the market, so I was just hoping to get some advice from you guys. Should I invest now (with a custodial account) or wait? Any good tips of what industries/companies to invest in?

Answer 1

Stocks are indeed down and I don't believe they will go down too much more. I dont think this recession is that big of a deal, we have one every 10-20years any way.

For you, being 17, put all that money in a long term CD. It will be longer term, over a year and you will get a higher interest rate on it.

You are guaranteed a profit.

In stocks, invest in a well known company. Focus on long term investing rather than short term.

Exxon Mobile, Proctor and Gamble, GE are good.