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Originally Posted by gawdlike
I recently saved 10k and I would like to invest my money to earn as much compound interest as possible. I will be be putting at least 1k a year, hopefully more, in what ever investment I make. I would just like to be able to obtain some of the knowledge that my elders have to give so I can make the most out of my investments. I want something for the longterm somewhere around 15 - 20 years or higher but preferbly 20 ish. I am going to bootcamp and trying to make sure i have a secure future.
Also any advice to articles to read or website recommndations i would appreciate because knowledge is power =)
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I was your age when I first started getting interested in the investment world. Someone your age has time on your side but the global economy is so iffy now, you need to understand what you are getting into. I'd start reading Money Magazine, Barrons, Fortune and others. Study the advantages of exchange traded funds vs. mutual funds. Keep in mind that with mutual funds, if you hear some bad news and want your money out of the fund immediately because you know the price of the fund is going to plummet, all you can do is put in an order to sell your shares and accept whatever the price of the fund is at the end of the trading day.
With ETFs you can get in and out in seconds.
If I were you I'd open an account with Fidelity or Vanguard or somewhere where you can do your own trading and research the ETF options and invest your money yourself. You'll do a much better job and take more interest than some mutual fund manager. The advantage of doing it yourself is that you'll also get better returns on your investments.
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