Let me tell you that I started investing when I was 30 and I've done pretty good. Have you ever heard of mutual funds? Do a google search. I just got my 27 yr old daughter to start funding her 401k money in an S&P 500 index fund with Fidelity. I will give you the same advice. 500 biggest established companies in America. It is a great place to stick your hard earned cash to start.
I will give you the secret to sucessful investing: Live below your means, save your money, and Invest wisely. You have time and compounding interest on your side. Anyone can become a millionare. Anyone !! Learn about investing. Agreat book to start with is The new common sense guide to mutual funds by Mary Rollands. I've read hundreds of investing books and still come back to this one. Easy to understand, not confusing, well written. very cheap, let me know what you think after you are done reading it. Mike
Pay yourself first, always put money away for you first, consider it like paying a bill.
at least 10% of each take home would be a good start to save. No kidding. Pay yourself first
Mr Mike is absolutely correct.You should look to invest your money in stock markets via mutual funds or directly into stocks if you can find some quality stocks.Don't invest in lump sums,invest in small amounts regularly.Find more info at;
http://tradethetechnicals.com/stock-mark...
So, I am 20 years old and about to start my new job. The thing is, I am lucky enough to have no other responsibilities other than paying for my own gas. My parents bought my car and I live with my family.
My question is this, knowing that a lot of kids my age are not as fortunate and that they usually have to pay their OWN bills and have no support.....what can I do with the money I am earning so that I can watch it grow or have it benefit me? I have absolutely 0 bills to pay. My parents only want me to pay for my gas.
Rather than throwing my paycheck away at dinners or clothing, can someone please help me make wiser choices with my money? I don't care about putting a lot of it into different investments because that money would have been wasted on unimportant things anyway.
What can I do to have my money grow?
