It's too soon to start an IRA unless you plan to LEAVE that money in there for decades. You definitely need to keep a good portion of your money in the bank as ready cash. If you can swing it beyond that, a good mutual fund or a bank CD are good ideas.

"Investing For Dummies" is a great book that you can find in most libraries. Give it a read.

If you want to put some in the bank, do that. But don't put it all in the bank. You'll earn about .05%. If you don't have much of an investing background, put the money in an index fund with a low expense ratio.

A Roth IRA is a great decision, you will put in money that you have already paid the income taxes on BUT it will grow 40+years and when you draw it out for retirement all of the money is TAX FREE, wish I knew this when I was young

what is your time horizon? will you need the investment in a couple years? or next month?

I would suggest you diversify, meaning do not invest all in one area or industry.

Buy a biotech fund (like the ETF IBB, or Fidelity biotech) if you want the future of medicine

Buy a couple consumer stocks which increase their dividends annually like PG

Buy some good universal industrial type stocks like ETN, CAT

Just put it in the bank for now !! You will save hundreds in fees, interest charges, late charges, overdraft charges, etc; and all of that is tax free savings. [ You will not see actual cash, but you will have more available money. ]

Hi I'm a senior in high school and I have a job. I was wondering what would be a good way to invest my money? Should I put it in a mutual fund or can I even start a Roth Ira. I just want some advice for investing right now.