I have $8500 and i am 19 years old

Question

i would like to invest my money in the bank.

i ve heard that there is something were u put $1000 a year and then after like 20 years u will have LOT of money.is that true?

can u PLEAAASE tell me whats the best way to invest my money?and please tell me me the name so that i know. and tell me how it work

websites will be helpful

Answer 1

i think, you can try overnight income investment. it more simple, workable, profitable and no risk investment. actually, money will work for you even while you sleep and you get your first overnight income.

Answer 2

can u please invest it in my college fund?

Answer 3

Savings Account, gives you a small interest rate, each bank has different rates.

Answer 4

Look into opening up a 401(k), a money market account, or a IRA/Roth account.

I would sit down with a finical planner to discuss your best options.

Answer 5

Unusual request in one so young! Go to an actual bank to start with. Ask to speak with Investments advisor. If you really don't need the money in the forseeable future, how about starting a Pension Fund? You won't see the benefits for decades, but it should be sizeable. Or start maybe with $5k, leave a bit in a Savings Account. Whatever you decide, make sure to ask if you would be able to take out the money if you had a real emergency.  

Answer 6

you need to go to the bank and talk to one of the accountants at the desk and invest your money into cds and ask them all about that. thats the best way to gain interest.

Answer 7

I know a lot of people who are exchanging their dollars for euros and pesos while the dollar is still worth something.

Answer 8

Get a degree, then go to Harvard B-school.  You will turn your $8500 into millions.

Good Luck.

Answer 9

try a CD at any bank

Answer 10

If you are planning on investing your money in the bank, I wouldn't expect too much money.  CDs barely give you enough returns to cover for inflation.  If you are looking to make a lot of profit, you should consider investing in the stock market.  Yes, the stock market is risky, but if you invest for 20 years, you shouldn't have to worry too much about that.  However, if you really are concerned about the risk, you can look into mutual funds.  They are diversified and professionally managed.

In order to invest in stocks or mutual funds, you will need a brokerage account.  I currently use Firstrade ( http://www.firstrade.com/ ).  They are cheaper than big name brokers such as Etrade, Scottrade, Ameritrade, and Schwab.  Their website is also very easy to use, perfect for beginners.  I've used them for quite awhile now and I've had no problems with them at all.  I would definitely recommend that you check them out.

Firstrade currently has a refer-a-friend program, so if you're interested in opening account with them, email me for a referral code. It's a win-win situation because you'll get your first 5 trades free.

Answer 11

Yes, check out the Vanguard, it usually doesnt make record proftits (it's a mutual fund) but it's pretty stable and safe, a great way to grow your money especially long term

www.vanguard.com

BTW good jub investing early... the payoffs will be big later