Kevin's reality is sad but true, be careful and learn as much as you can about what you are investing in.
In terms of what you can invest in, I full-hearted agree with Kevin on ETFs they have the diversity of mutual funds. Many brokers (I use idameritrade) offer accounts that can trade some ETFs with no commissions (which is huge for new investors), they also offer paper trading which is where you can trade and watch the market without risking your own money.
You are young, look at long position and don't get swept up in short term ups and downs. If you don't trust your own management then talk to your banker, they will be able to offer you investment plans.
Best of luck, cheers.
How history repeats itself.
My story: When I was 18, 46 years ago, I had $3000. to invest. I bought (highly) speculative stocks and it was all gone in less than 2 years. (by the way, in 1968 gas was 28 cents a gallon, I had already bought my first car, a 1967 Mustang for $2,500.- so $3k was more like 30k today)
If I had only bought Coca-Cola,(my favorite drink at the time) reinvested the dividends and held on for 4 decades, I would be "wealthy" today.
My advice, buy high quality stocks (or ETFs) , reinvest the dividends and hold on for decades. For example: JNJ, PG, XOM, DIA, SPY, DVY)
Slow, but steady, wins the investment race. Your earliest investing mistakes are the costliest.
If you want to invest money, then you should know about different investing options from where you can get good returns. It would be great if you split your money in some packets and then invest it correctly. You can invest in stocks or you can deposit them in banks. It depends up to you.
you should invest in my bank account
LOLOLOLOLOL!!
Listen to Geo!
I see all these rich guys driving super car claiming they all made money from investing. Im only 20 and have roughly $3000 in my bank account, what can i invest in?
