Want to know what should a 17 year old invest in? Read the investment advice I found online. Investment advice to a 17-yearl old who wants to invest his money. Here’s the interesting question and answer of the day. Another no non-sense conversation about investing in the personal finance and investing club. One of the member of the investing and personal finance club on FB, asked a question related to investing options for his 17-year old brother.
I only discovered investing when I was at 30, I really wish someone (maybe my parents or a friend) taught me how to invest money when I was a teenager.
What Should a 17 Year Old Invest In
Here’s some of the best investment advice that are worth sharing in this article. Take note that it is still important to consult to register investment advisor or to any certified financial planner before you make an investment decision.
I think best thing to do to start investing as a 17 year old, is to ask parents to open an investment account for you. There are many investment options, you can invest on financial education first, or invest in mutual funds since there is a fund manager that will invest your money for you.
I think this is a good investment advice, learning financial education is the secret in successful investing. As Warren Buffett said, “Risks comes from not knowing what you are doing”.
Dollar Cost Averaging
Since he was still young, try to open a stock brokerage account for him. Buy stocks. Stock market investing is good for young investors. If your brother will invest $100 per month (dollar cost averaging) that earns at least 12% per year, he will surely acquired hundreds of thousand dollars for his retirement. To carefully invest your brother’s money, don’t ask anyone here, try to consult to a registered investment advisor or to a certified financial planner. After all, investing early is the best decision you can advice to your brother. Congratulations. If his money will invested properly, he will retire young and rich. believe me, compound interest favors the young investors.
Investment Advice from: InvestmentTotal.com
So, which one do you think is the best investment advice for a 17-year old investor? Let me know your ideas on where can a 17-year old put his money. Share your opinion on what should a 17 year old invest in. Leave a comment below and share this page with your friends! Thank you!