What type of investments should I get into?

Posted by admin
es_harper2007 asked:


I am going into college next year and want to put my summer job money into investments. Total $ will be less than $1500. WHat kind of investments will be the best for me. No short term withdrawing forseen.

DEWAYNE
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This entry was posted on Sunday, October 25th, 2009 at 3:08 am and is filed under Personal Finance. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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3 Responses to “What type of investments should I get into?”

  1. HARRISON Says:
    October 27th, 2009 at 5:01 am

    ELMO

    There is way too many scams out there, I suggest that you be very careful whose advice you take and do your own due diligence before joining any business ventures or investments programs.

    Having said that, Do you understand the power of compounded returns?
    I know of an Opportunity that is totally Unique and I virtually guarantee NO CHANCE of losing your money!

    This One is for REAL! And with No obligation on your part.

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  2. WADE Says:
    October 30th, 2009 at 6:40 am

    TERENCE

    $1500 isn’t much money, but if you invest it wisely and add $1500 a year to it, it can be enough to retire nicely on in 50 years.

    Open an account with Etrade or similar and put it in a no load mutual fund.

  3. RAUL Says:
    November 1st, 2009 at 1:18 am

    PHILLIP

    $1500 may not seem like a lot, but think compounding. If you can find something that returns 10-15% a year, that $1500 will be worth around $100k in 30 years. Rather than investing your money now, put it into a savings account and learn everything you can about a few different strategies until you find one that you understand and are comfortable with. Some of the major brokerages also offer “papermoney” trading systems which let you test our various investing ideas without risking any of your own capital.

    To see a good long term return on $1500 you’ll need a more aggressive strategy than buying and holding stocks long. I suggest looking into LEAPs which are long term options contracts sold on stocks. LEAPs on ETFs are probably your safest strategy since they build in diversification of hundreds of companies. I’d personally look at SPY (s&p500), QQQQ (nasdaq100), and IWM (russell 2000 index). Yahoo’s ETF center is a good place to start.

    Options are called risky by people who don’t understand them or how they work. With a little time spent on educating yourself, you should be able to find a good return and a good strategy. But, don’t expect to have an eureka moment based off of the responses people will give you on Yahoo.