Whats the best long term investment type for my situation?

Question

Hey guys im 19 years old and want to start investing so i can retire early like around 45.. If i start now i think it will be possible. The other day i ordered about 5 different books from amazon about investing including the intelligent investor, some stock books and some other investing ones. I dont know if stocks, bonds, mutual funds, ETF's, or maybe something i dont know would be good. I can put about 200 a month in it and in about a year or less i will be getting a settlemtn of around 10 thousand dollars. With this situation what would you guys prefer?

Answer 1

Make sure to save at 10% of your income to build up emergency cash reserves.  A good rule of of thumb is to have 3 months reserve built up.  Once you've got that remain debt free, keep saving the 10% and then begin to invest another 10% towards your retirement.  Stocks have the greatest potential for return (income), but carry some risk.  Keep reading information to become an educated investor and invest while looking for a 1-3% return monthly.  You should do alright if you shoot for that return on your monthly total.  good luck.