Short answer: Any competent financial advisor will tell you to always invest sooner than later. This is a fundamental law of investment and compound interest. The more time your investment has to compound the better off you will be.
Longer answer: Most high school and even college students typically do not have the financial resources to do much investing. If you do great! As a younger investor you have time on your side. As such you can invest much more aggressively that perhaps someone who is nearing retirement. All financial investments have some level of risk but if you do stumble in a poor investment choice when young you can often make it up down the road whereas older investors don't have than luxury to. One example of this would be Dogecoin. Many financial advisors would call Dogecoin a risky investment but it has seen incredible growth recently. But for every Dogecoin there are a number of others that have tanked or hardly move at all.
Remember that monetary investment is only one form of personal investments that matter. Education is often considered an investment as it will often (but not always) pay dividends down the road or accelerate your career. Taking the time to exercise and eat healthily can also be considered an investment in yourself as you will statistically live healthier and longer. Investing time in relationships that matter can pay of in unimaginable ways - though rarely financially. Money is an important resource, but just remember that your financial portfolio is only one facet of your life - be careful that you don't neglect the others.
-Best of luck to you!
Financially, begin investing in a career that will allow you the lifestyle you want for yourself, without sacrificing your current passions. Keep in mind that not every job will be your "dream job", but if they allow you the freedom to pursue your passions outside of working hours, it may be a good short-term investment. Take advantage of 401k-matching from your first day on the job & you'll be shocked by how quickly and easily you can begin building wealth for retirement.
That being said, there are things you can do to take control of your financial future outside of your career. Real estate is a strong investment with time on your side. This can be done with as little as 3.5% down. I have found "house hacking" at a small scale to be very attainable. Taking this approach can help cover parts of your monthly payment, so you are building generational wealth with a huge financial asset, for very little upfront and a small monthly contribution. This is likely money you would be using to rent anyway, so this is a great way to make your money work for you!
Physically & mental health cannot be neglected in your investments. It is unlikely that you will ever regret a good workout, a good meal, or time spent with those you love. Invest in relationships that bring you support and joy. Invest in your body, the only body you will ever receive. Spend time and money in the gym, on challenging hobbies, and even counseling/guidance when needed. Invest your time and money on things that have a positive return on investment financially, physically, and mentally.
I think it's never to early to start investing in yourself, and the earlier the better. I've that I'm a creature of habit, and being able to start good habits when you're young can end up with life long rewards. Whether it's starting working out or learning a new hobby the earlier you start investing in yourself by creating those habits the harder it will be for those good habits to be broken.
It depends on what you call investing in yourself. I think that a lot of times, we look to invest in the tangible stuff (Clothes, cars, etc) which as you know these are things that are temporary. Truly investing in yourself would be in your overall wellbeing - health, emotional, knowledge.
I hope this helps.
You can start by opening a Roth IRA and saving a portion of your income every month to it. What's good about Roth IRA is that your money grows tax free because the money you're investing is already after tax.
Here's a website that talks about Roth IRA FAQs - https://www.ramseysolutions.com/retirement/roth-ira-101.
Michelle recommends the following next steps:
I'm no stock expert, but investment websites like E*trade and Vanguard are great places to start! They make investing in stocks or mutual funds pretty easy to understand.
If you are working and your employer offers you a 401k plan, I would also recommend setting aside some of your paycheck to your retirement account. Even though your take-home pay will decrease, that amount you put aside will grow and help you in the future.