What type of investments can a college student invest in?
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Doctorv21 asked:
I make about $500 a month on my part time job. I’m sitting out of school for a semester because I’m on academic suspension. I’m waiting on a job from the government or at Wallgreens full-time. In my current situation what kind of investments can I do? Also I’m changing my major to Business and Marketing Management Technology. The degree is at a 2 year community college and it’s an Applied Science Degree which is legit.
PHILLIP
I make about $500 a month on my part time job. I’m sitting out of school for a semester because I’m on academic suspension. I’m waiting on a job from the government or at Wallgreens full-time. In my current situation what kind of investments can I do? Also I’m changing my major to Business and Marketing Management Technology. The degree is at a 2 year community college and it’s an Applied Science Degree which is legit.
PHILLIP
November 28th, 2009 at 12:36 am
RENE
what you invest is really a personal decision. You should base you decision on what type of risk you are willing to take, how long you want to save, what you are saving for and if you have enough income to save. You don’t mention if you already have savings or not. If you don’t many professionals say you should save three months to six months worth of living expenses in an interest bearing savings account. Once you have done that you can then think about additional ways to save and potentially look at other investment types such as CDs (little risk) to stocks (possibly significant risk). The first step is to start saving something. Check out some books on investing so that you can learn about the possible options available to you.
November 29th, 2009 at 1:42 am
BENNIE
The only teacher that made a lasting impression on me in high school was Mr. Toler, my Pre-Cal teacher during my junior year. I think we were going over compounded interest at some point in the semester and he hit us with probably the most useful advice I’ve ever received and I still remember it to this day. He said that “After you graduate, set aside $2,000 a year in an IRA or a ROTH IRA account for three to four years straight and don’t touch it until you retire. By that time you will have more than enough money to live a comfortable life when you are finally ready to retire.”
Other than that, if you have the money investing in property isn’t a bad idea either; commercial or residential. It’s better to be financially stable though.
Good luck.