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how do i know what investments would be great for me
baseball player, major business and finance #major #college #majors
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Simeon’s Answer
Are you referring to stock investments? ETFs are generally the safest option for growing wealth as they're packages of well-performing stocks that you can buy into for a small fee. Sorry if I'm misunderstanding the question.
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Paul’s Answer
If you are asking about investing your money, it depends upon your goals and the time horizon. For example, if you need to invest money so you can have money for college, that's short term so you need something safe without a lot of risk such as a cash, CDs or municipal short-term bonds. If on the other hand you are talking about saving for retirement, you're looking at long-term investments so you should be focused on stocks, ETFs and mutual funds.
If you need someone to sit down with you to discuss this in detail, seek the help of a Certified Financial Planner.
If you need someone to sit down with you to discuss this in detail, seek the help of a Certified Financial Planner.
Latisha Arrington-Dixon, MS
Team leader for administration and operations team within a bank.
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Latisha’s Answer
Giovonni,
I think its a great idea to begin investing at a young age. But to Paul's point, its best you sit down with a Certified Financial Planner to determine what's best for you. To Edwin's point, if you have not begun college yet, a 529 plan is a good idea, as you can save for college, the earnings accrue. Stocks can be tricky, and at times volatile, so I personally recommend at some point, when you start a full time job to definitely take advantage of the organization's 401 K plan if they have. Its never too early to begin planning for retirement, additionally, some companies offer a matching program, where they will contribute any where from 2% to 5% of what you contribute.
I think its a great idea to begin investing at a young age. But to Paul's point, its best you sit down with a Certified Financial Planner to determine what's best for you. To Edwin's point, if you have not begun college yet, a 529 plan is a good idea, as you can save for college, the earnings accrue. Stocks can be tricky, and at times volatile, so I personally recommend at some point, when you start a full time job to definitely take advantage of the organization's 401 K plan if they have. Its never too early to begin planning for retirement, additionally, some companies offer a matching program, where they will contribute any where from 2% to 5% of what you contribute.
Updated
Edwin’s Answer
Hello Giovonni,
I would consider College a great investment. I know States Colleges are amazing!
What helped me choose my University was to make sure that I could afford the tuition. When you apply to colleges you can apply for the FAFSA that's really helping me out! Also, remember there are scholarships that you can apply to which can help carry some additional costs.
-Edwin
I would consider College a great investment. I know States Colleges are amazing!
What helped me choose my University was to make sure that I could afford the tuition. When you apply to colleges you can apply for the FAFSA that's really helping me out! Also, remember there are scholarships that you can apply to which can help carry some additional costs.
-Edwin
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