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| *Ostroff, Fair and Company>>>Other - Business & Finance |
I am 17 and I plan to invest $2000 in mutual funds or stock market. Is it advisable to do so? |
I was able to save the amount of $6000 and I plan to invest $2000 in the stock market or Mutual Funds, whichever is better, to make my money grow. I want it to grow into a very big amount before I graduate into college. The ramianing $2000 will be invested in a business. What business do you recommend? Also, Is it advisable to invest the money I saved into mutual funds? Any suggestions/recommendations would really be appreciated. Thanks. Just to share my experience. i have about $2000 before i went to university. i invest them all in mutual fund with 8% p.a consistent return. during my study time, i set aside $700/yr to dump into the same mutual fund. after graduated i start invest in stock. after 3 years, my stock able to give consistent return of 15 to 20%! when i looked back, if only i had the opportunity to invest in stock (the same stock i own now) before university, i'm able to earn extra 7 to 12%! but it doesn't happen overnight. i read a lot and did my own research too. maybe i just don't have time for it in the past, so it didn't made me regret investing in mutual fund that time. it all depend on you, how much time and effort you are willing to put in for the action you'll be taking. Source(s): http://www.stock-investment-made-easy.co... This is a big decision and my best advice is to DO YOUR HOMEWORK! Mutual funds are safer than stocks but won't grow as fast necessarily. It depends on how much risk you can handle. If you put it into one stock and it goes down before you get to college, you will be out all that money until it goes back up again. There are some good analyzers out there like on http://www.3stocksonfire.com/index.php?r... or Motley Fool (fool.com) as well as many other reputable sites. My advice is to take 3 months and have a pretend portfolio to see how well you make decisions- one with stocks- one with a MF. Good luck. Congratulations on your success thus far. Unless you are willing to gamble in the market, use mutual funds. I suggest you commit to making continuous deposits every year for the next 15 years, and then just let it grow. You can use an insurance contract with mutual fund like accounts to give you tax sheltered earnings and free access to your money if needed. It can be like a Roth IRA, but with less restrictions. If you do this, you will need to tell the representative that you want to have the least amount of insurance the law allows that will still qualify for most favored tax treatment. (Tell him you want a non-MEC and he will understand). your visit in this site www.click4freeinfo.page.tl Good Work............... Great....................Congr... Best advice is to get hold of a Certified Financial Planner and get a detailed plan. Very Big amount is a comment made by losers, You need to quantify the amount you require. Wish you all the very best. |
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