What is the best way to invest money for long term when starting at age 20?

Question

What is the best way to invest money for long term when starting at age 20?

Answer 1

John, mutual funds will earn you the most over the long haul...i started with zecco.....still use it, still very happy. only ones with no fee for stock trades, and no minumums.  it took me some time to see that most of my gains were lost to the fees i paid to actually buy stock and sell it....all the others will charge you fees for trading, but compare and see for yourself!

http://friends.zecco.com/r/a7a2877caab81...

Answer 2

The problem with investing for long term is that in the long term anything might happen.  When I was your age common wisdom was that GM was a great long term investment.  Now look at it.  Xerox was a great long term investment back then, not any more.  Actually, I am not certain investments in U S companies are good investments any longer.  One that might be a decent investment is Vanguard Global Equity Fund.  It is well diversified, holds a little of everything everywhere. But even so it is currently heavily concentrated in oil companies and natural resource companies.

Answer 3

invest in more than one source and never allow more than the insurance amount for any one account and make sure the profits are not in the same bank.. choose wisely as there could be more ENRON nightmares out there... Too may people lost their retirement 401K on that one...

Answer 4

Index funds.