WHAT SHOULD I DO WITH $13,000 WHEN IM 17 YEARS OLD AND WANT TO DO A LONG TERM INVESTMENT?

I now have it all in the mutual fund. I was wondering is which what I should be you do with it? im perplexing to have the many distinction with my income over the really prolonged duration of time. as well as additionally my relatives have been profitable for college as well as i have the car. so i have zero to buy materialistically.

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Rocco August 13, 2010 at 8:33 am

Good for you! You need to consider your tolerance for risk. This $13,000 is a big deal, and you may be devastated if you lost it. On the other hand, you’re young and have a lifetime to recover from it, so you need to ask yourself if the risk of losing this money is worth the possibility of getting huge returns. If so, look for investment vehicles with high risk and high return (they tend to go hand in hand). Otherwise look for low risk, low return. The pros will insist that you diversify – that is, spread the money around into, for example, stocks, mutual funds, precious metals, government bonds, and so on.

This is enough money to make it worth finding a good financial advisor who can help you measure your risk tolerance and choose an investment strategy that’s a good match for your situation and your goals.

HAM M August 13, 2010 at 8:46 am

PS3, XBOX 360, Wii. :D

stan c August 13, 2010 at 8:52 am

The stock market is history. Just invest in fixed annuities. It might not pay much, but you can not lose a dime. Better to be safe than sorry later.

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