I am a college student, and I want to invest in something that will give me more money when I am able to take it out. I want to invest in something that is not allowed to be touched for 5-10/20 years. I understand that I am going to want to get a hold of the money, but I am sure I will be able to get around it. I am clueless about what I should invest in without taking too big of a risk.
#1 by Dizzy J on December 4, 2009 - 10:30 am
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Why not open a CD (certificate of deposit)? They pretty much have no risk because they’re insured. They also have a fixed term and interest rate. You can’t touch the money until the CD reaches maturity, then you can withdraw it with the accumulated interest. Or rather, you can, but there’s a penalty. The only thing is, there is a usually a minimum deposit. I don’t know about other banks/institutions, but I do know that Washington Mutual’s lowest minimum deposit for opening at CD is $1,000.
Hope this helps!
#2 by Aldric Chang on December 4, 2009 - 10:54 am
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Hi, CDs or bonds would be quite perfect for someone like you. Investing in Mutual Funds or long term investments in Indices are also quite good choices because it is historically proven that these tend to ride out well in the long run. You must be prepared that your investments will see dips in the short run though. If you do ride out for 5-10/20 years then chances are you will get good returns. You might want to visit http://www.invest-money-stocks.com for a better overview on all things related to investment.
#3 by Fred G on December 4, 2009 - 11:05 am
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Go here. Some good beginner info and guides:
http://www.estocktrades.info