You're better off just investing it in some blue chip company that increases yearly, and holding it for a long time (a few months). That way, you'll probably get some extra income.
$500 is just too little to earn much off of it. A lot of people believe that the stock market will double or triple one's investment in a matter of days or weeks. That isn't usually the case, even with rockets (stock jumps up high, quickly).
First, you need to set up an account with a discount broker like schwab.
Next you need to realize that you could lose money.
Finally you need to realize it will cost you $8.95 per trade or maybe $7.95 per trade at fidelity, to buy AND to sell. You are better off starting in a fund which is diversified like Fidelity Large Cap Stock or even a stock like SPY (the S&P 500). You say you want dividends? At your age would n't you rather have total growth? Invest in a mutual fund like Fidelity Biotech or a stock ETF like IBB which is a group of biotechs. Look beyond dividends. Look for growth at your age!
Vanguard S&P 500 funds. S&P has been yielding 10% for the past 30 years.
Its very godo that you have started investing at young age. You should start with mutual fund investment in SIP form it would be good for he beginner
Put your money in the bank. You will need it for something in the very near future, and you will get more benefit from the money. (No overdraft fees, no monthly charges, no interest or service charges because you cannot pay a bill on time,,,,).
I am an 18 year old with a summer job and more income than I know what to do with. I am interested in setting aside around 500 for investing into a stock, mutual fund, etc., that will show good gains and I don't know maybe even a dividend check. What is my best course of action for making some extra money?
