When I was 18 (45 years ago), I had $3000. and invested in speculative stocks. In less than 2 years the money was (long) gone.
WHAT IF I had bought Coca-Cola, my favorite drink at the time, reinvested the dividends and held on? We are talking mega-bucks lost out on.
My guess is you will "guess" wrong and the money will be gone in less than a couple of years. (but, what the hey, I have been wrong before)
My advice is use the $700. to take a nice trip somewhere. You could make for some great memories.
Fidelity Investments has some great preforming sector funds.
They are high risk, but most can triple your money in a few years.
Biotech and Chemicals are best.
Hi i recently came upon around 700$ and am looking to spend it on some stock. Whatever i buy i wanna keep it for at least 5-10 years and let it sit. I am only 18 years old so i am looking for something a little more high risk but i am not about to buy some random penny stock. Im looking for an investment that has the potential to gain 5 times its value in the next 10 years and am willing to take a significant amount of risk. Thanks for reading my question and I really appreciate all answers given.
*Also, I have been interested in some 3d printing companies such as 3D Systems Corporation (DDD) and Stratasys (SSYS). If you have any opinion on these companies another 3d company i would be very happy to hear about it.
