FundRobot » Investment Fund » What are some sound investments I can make now, at my age that will do me well by age 40?

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Old   #1 (permalink)
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Default What are some sound investments I can make now, at my age that will do me well by age 40?

I am 19 years old and I would like to start now, in setting my self up for success financially. I have 1000.00 a month to invest and save, what should I do with it? Where should I put it? Any wise investments? I am also very open to any financial advice. Enlighten me, please! :) I would also like to know any other available resources, like books or classes I should read or take to point me in the right direction.

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Default What are some sound investments I can make now, at my age that will do me well by age 40?

for now, take advantage of living at home and save money
savings account
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Default What are some sound investments I can make now, at my age that will do me well by age 40?

That kind of money I suggest you research investment firms and get a professional to direct you to mutual funds and other instruments that meet your needs. You don't say why age 40 has any significance, it is not like 65 which is retirement age but in any case that is something to discuss with your investment broker. A thousand a month until you are 40 is a quarter million, wisely invested that is going to be considerably more. There is plenty on the internet on money management and investment but what I would do is go to several of the big investment firms and simply meet, ask questions and see what they have to offer and go with the one you feel most comfortable with. They are going to ask you questions too and those questions will help direct your future thinking on investments. Good luck!
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Default What are some sound investments I can make now, at my age that will do me well by age 40?

I agree with Apol**. It's complicated and it's not so much that you are young (though you are) but that it's a lot of money to be experimenting with. I'm 60 and I'd use a broker to handle that. We use Merrill Lynch for our IRA's, which isn't an endorsement but we are happy with them. Mutual Funds, maybe REITs. It's not a huge fortune but it will add up quick, if you keep at it, and you need a diversified portfolio. Make sure your broker understands that it's long term and doesn't eat up your profits with trading fees, too.
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