The answer to this question depends on how long you are able to keep it invested, and the amount of flexibility you have to leave it in vs take it out.
In my opinion the safest and smartest mutual funds are those that invest in strong, undervalued, companies. These are often referenced as "Value" mutual funds. It may take a few years before these companies begin realizing their true value, so you'll need to be patient holding your money in there.
If you'll be withdrawing your money within the next year or so, you may want to look into short-term investments such as money market or Treasury bills.
Any discount brokerage can sell and buy any of the thousands of mutual funds or ETF out of your account, They will typically have a minimum deposit amount of about $2k. You can easily link that account to your savings or checking account to pay tuition and expenses from. Realistically, budget for about a 7% return, and if you're lucky there won't be a stock market crash.
That's what my friend Nathan Gold uses as the starting point of a stunning 5-step "trade-wave" that he's just added to his already popular website.
http://penny-stock.keysolve.net
Nathan shows you how that lowly $1000 could potentially grow into an amazing 7-figure retirement nest egg that you simply have to see with your own eyes.
your goal is admirable, but grad school is not too far away, you would not want to lose money, so the market is at an all time high. something to consider carefully. I think you would be well to save something each week and put it into high quality stocks that increase their dividend each year like PG, and maybe some risk money in supergrowth stock like INVN
What type of mutual fund is this based on what I intend to do.
Basically I want to create one for my saving account and whatever I have in my savings I want it to grow quite a bit so that way I can pay some amount for graduate school
