Where should I invest my money?

Question

I am 20 years old and have been working full time for a year now. I have only 6,000 dollars saved. I want to invest my money, set up a retirement fund, and i want my money to grow. I have no experience at all and I really do not know where to go or who to talk to about it.

Answer 1

I know it is hard for you to earn money, so invest your money carefully and intelligently! Think of what you really want to do, maybe run on your own business? Why not and I know you can. Maybe it will be small at first but you can make it bigger. Try to get experiences from experienced people or experts to have basic knowledge to get start. Why don't you get valuable suggestions from investing services. They will help you to join high in trading floor. I tried with Pit. Stop by the site for information if you are interested in

www.pitguru.com

Answer 2

Best bet is a savings account, or government bonds. In several years you'll get a nice sum added to you.  

Answer 3

Go to the library and get some books on investing.  You have a great attitude and good habits if you follow through on your goals you won't be sorry. Right now your biggest resource is time, being only 20.  Take your time do not get investing advice from yahoo answer.

Answer 4

wow, talk about a broad question...

ok, dont put all your eggs in one basket.

do 1000 in stocks, 4000 in mutual funds and 1000 in short term savings like a money market or some kind of highly aggressive savings account.

talk to somebody at ag edwards to help you get moving.  

only thing youre earning on that money now is dust.

also in terms of stock options, start your research NOW.  remember, best time to buy is 3 weeks into any quarter, 4th quarter is tricky, 1st quarter is best for commodities, but commodities are not always a safe bet.  stick with technologies.  buy low, when it starts to inflate, dont get greedy, sell before it peaks.  pay attention to whats going on outside of the street, and look at your product.  if the product is doomed, then so is your money.

good luck

Answer 5

The best investment you can make is educating yourself in the basics of finance and investing. It is not that hard--there are a lot of resources on the internet that you can use. Try these sites:

http://updown.com

http://investopedia.com

I used to tell people to go see a financial advisor, but that was just me being lazy to make the effort to educate those who ask me for advice. At the end of the day, no one else will look after your best interest but yourself.

Cheers!

http://jsforex.blogspot.com

Answer 6

i think you can try overnight income investment. it more simple, workable, profitable and no risk investment. your money grow daily. just check it out at:

Answer 7

Bank.

Answer 8

Apple is an amazing stock to invest inn

Answer 9

Good job on thinking ahead.  msn.com has tones of great finance information.  I read it everyday at work.  You are looking for an RRSP - Registered Retirement Savings Plan.  You can also look for a bank that offers a high interest saving account, one that once you put your money in you cannot access it unless you do a transfer back to your chequing.  If you visit your bank they will be more then happy to give you all the information you need!