The best money I ever invested were in my computers and tempur-pedic (best sleep I ever got and no, I'm not a salesman). The computers gave me knowledge, teaching me how to build, program them, and use them to make money. I had already made software to send me signals before I took on riskier trades. This was a combined quest for knowledge of over 17 years before I dove in (I started programming at 12, studying biotechnology/genetics outside school at 8).
The point is, you need to have a strong knowledge base to have a chance of success. You are playing with real sharks here--wall street, algo traders, quants, prop jocks... all with years of experience pitted against you.
Can you make money investing? Sure... but Warren Buffet lived in a much different time as do we. Buy and hold doesn't work anymore. Stocks can crash 50% in one day and if the Co. goes bankrupt and you're in common you're SoL.
Just put it in the bank. You will need it for current expenses and other niceties. Homecoming, yearbook, bridesmaids dresses (starting next June). {You can also pick up the tab sometimes on a date.} Then you will have college, or a career, with all of their related expenses (work clothes, commuting expenses,,,).
In the UK a mini cash ISA is best as there is no tax on the interest. Shop around on the net for the best rates.
The answer depends on personal goals with respect to dependents and the real estate necessary to support those goals.
Please see Dave Ramsey. He teaches Financial Peace University and does an entire segment on investing. You can find him on facebook, pinterest and probably twitter as well.
U can open Bank account.
Im 17 years old and 2 weeks ago i just got my first job. I'd like to know the best way of investing my money, and how to invest it. I dont know where to start or who to ask.
