How much should I have in savings? Im a 14 year old investor with thouands in stocks. How much in savings?Than

Question

How much should I have in savings? Im a 14 year old investor with thouands in stocks. How much in savings?Thanks

Answer 1

Savings are not paying hardly anything in interest these days. You can earn much more in short term CD's or Money Market accounts. The bank I work at is only paying .70% on savings accounts, and is even lower at other financial institutions. Always check on Tuesday's that is when you will see changes in interest rates.

Answer 2

I would say to keep nothing in savings.  Savings are there just in case you lose your job or something and have to pay rent or your mortgage, car payment, etc...  You are in a very special position.  You should have all of your money invested and right now is a pretty good time to buy.  Do something called dollar cost averaging.  Take all the money you can save and start investing it in companies with a real future.  For example, I think Hershey's and Coke have been falling and are pretty cheap right now.  Also, they have dividends which means they pay you a little money once in a while just for owning their stock.  Keep buying stocks like those even when the price is going down.  Actually, when the price goes down you should buy more shares.  

You should also definitely look into putting some shares in a (I think it's a) 529 plan.  This is an investment plan that allows you to put money and stocks in now and lets you take the money out (after it has grown), with no taxes, to pay for college.  I guess that would be a type of savings and it would depend on how much you expect your parents to contribute to your tuition, what kind of university you'll go to, and whether or not you'll be getting a scholarship.  

Otherwise, you should be very proud of yourself for saving that much at your age.  You have a huge advantage by starting so early.  By the time you retire you'll be a millionaire with just the money you have now, invested properly.  Keep saving and you'll be amazed at how well off you'll be some day.

Answer 3

How many "thousands"? When I was 14, I invested $1,500. At such a young age you really don't need too much in savings. It's good to see young people getting interested in investing. (I must sound like I am an old man, but I am still in high school =P) Not a lot of kids really care or pay attention to money. Put it this way, when you are 24, you will have 10 years of investing experience and you will probably be starting your first career. Some of your peers will just begin to think about investing and you will be 10 years ahead of the game.

Answer 4

1----you are lying------------2----I smell a rat------YOU ARE STILL PLAYING WITH DOLLS------AND YOU KNOW IT!!!

Answer 5

you are a very smart  young man keep it at 10 percent. and you'll be fine have you heard about fedelity investment they might be a sourse to look at ok best of luck kid