Lux Investing
Best place for a college student to invest money?
Hi, I am a young student who receives a set amount of income every month and would like to invest my excess money for the month somehow. I would like to know if there was any place I could do so with the least hassle, risk and costs, preferably online. Could anyone direct me to a site, and/or any information I would need to know about this? Thank you very much.
Public Comments
- You are lucky to have the income, and to be mature enough not to blow every cent (or more) of it. Everyone, including a bank, is going to charge you something for entrusting your cash to them rather than under your mattress. It takes money to make money. Your surplus is not "money" in investing terms. Brokerage fees are likey to exceed any gain that you, as a greenhorn are likely to make. Keep your surplus in a bank as your "rainy day" fund. When you graduate and land yourself a lucrative job, invite your friends - including those who paid your way - to a fabulous party.
- Save for a downpayment on a house for when you graduate and start your career. Put your money in a credit union for safety. Wait for housing prices to bottom. I believe they have not bottomed yet. Then begin dollar cost averaging into the stock market. Invest in an ETF that tracks the DJIA or S&P 500. That would be a great start. Online use etrade, ameritrade, or scottrade.
- In nowadays market crisis condition, if you are serious to invest and have no intention to lose all your money, you can google for HSFX Asset Management and start making consistent profits!
