What is good to invest in when your young?

Question

or what do/did you invest in?

Answer 1

The best stocks - market leaders - with the potential to breakout and have a strong, 18 - 24 month rise in price.  Read Investor's Business Daily Monday Special edition and you'll have  some quality choices to pick from, and more importantly, understand why they're top rated in simple language.

You can get a copy on Saturdays at your local chain bookstore for a couple bucks.

Answer 2

The best and greatest investment you can make is in yourself.  It is one investment that you'll never regret making and you can't loose any money doing it.

Before you start in the world of investing or doing anything, you have to have your mind set that you will get a formal education no matter what.

You must read Rich Dad Poor Dad by Robert Kiyosaki

If you want to learn about investing in the securities market here are some books for you to read

What Works on Wall Street by James O'Shaunessey

Beating the Street by Peter Lynch

One Up on Wall Street by Peter Lynch

The Warren Buffett Way by Robert Hagstrom

How to Make Money in Stocks” and 24 Essential Lessons for Investment Success both by  William O’Neil

Get into the habit of making daily visits to some websites like MSN Money and Yahoo Finance.  (http://moneycentral.msn.com/home.asp http://finance.yahoo.com/ )

While at MSN following the strategy lab analysts to get a feel for what the pros are doing and why.  This site has some basic information for beginners.

Other website that can provide instructions and help with procedures and terminology are Investopedia - http://www.investopedia.com/  Stock Charts - http://stockcharts.com/

http://www.investorshub.com/  http://www.1source4stocks.com/



Visit some of the more professional websites like Zacks htp://www.zacks.com/  Smart Money - http://www.smartmoney.com/  Schaeffer’s – http://www.schaeffersresearch.com/

Some of these web sites will have advertisers who are worth looking into also.  And remember, if they offer free information, get it.

I started investing when I was 12, and never regretted it.  It was fun in high school knowing that I was trading in the market, especiall getting a new car out of it.  By the time college came, finance and economic courses were a snap.

Go for it, and don't ever let any one tell you that you are too young to invest or to just put your money into the bank until you're older.

Answer 3

I bought individual stocks in companies I knew a little about (places I shopped, or makers of software I used).  Peter Lynch's "One up on Wallstreet" is a good book describing how to invest in individual companies like this.

I stayed away from Mutual funds due to the higher expense fees and having to pay capital gains tax even when not having sold any.  

I consider the relatively recent creation of ETFs (Exchange Traded Funds) to be a boon to all investors (especially young investors);  ETFs like mutual funds have the advantage of investing in several stocks at once, but usually with lower expense fees and you only have to pay taxes when you actually sell your shares.  I like the following very broad ETFs: SPY (tracks the S&P 500) and QQQQ (tracks the top 100 non-banking stocks on Nasdaq).

Answer 4

I have two seperate answers for this.

The first is just simple, open a high interest savings account, something with at least 2-3% interest. Put every spare cent you can into it, just to get yourself into the habit.

But if you have even a "reasonable" income, and I'm talking like, mowing lawns and shovelling snow and stuff, try to set yourself up with mutual funds. You can learn alot about how stock investing works without putting your money at a severe risk.

Thankful For Fools

http://thankfulforfools.blogspot.com

Answer 5

Education