Investing money?

Question

I was wondering what would be a good way i could do some investing with some money? I'm under 18 so that is the biggest problem i suppose. How exactly does a CD work? What does it return? I'm opent o ideas. I want to do something with my money instead of it just drawing point something percent in a savings account.

Answer 1

CDs  ( certificate of  deposit )  are  just  putting  it  into  a   savings  for  a  specified  period  of  time  ( starting  about  3  months )  and  no  withdrawals  during  that  time .

for  rates  at  various  institutions    >   >  >

http://www.bankrate.com/#

They  pay  slightly  higher  %  but  ING   and  Citi eSavings  pay  almost  the  same  as  CDs  .  .  .

http://home.ingdirect.com/

Smart  kid ,   wanna  lend  me  some  $$$  !  ( joking  )

And  start   going  to  Yahoo  finance ,   they  have  the  current  markets  &  quotes ,   an  education  &  glossary  under  the  investing  tab  plus ,  you  can  create  hypothetical  portfolios  to  see   how  you  would  do .

It's   all   free

http://finance.yahoo.com/

>

Answer 2

Put it into a high interest fixed rate account overseas and you will earn 12% per year. Age is not a problem.

Answer 3

First INVEST IN YOURSELF.

What do I mean?

EDUCATE yourself towards investing.

It takes about 10,000 hours to MASTER investing.

Let's see:

10,000 hours /40 hours in a week =250 weeks

Here's a great place to learn A LOT about investing

http://www.FinancialSense.com

Listen to the FSN Broadcast every weekend.

In 3 years you'll know more about investing than anyone you know.