How to invest?

[kmac1914]

Okay, lately i've been thinkin about putting away some money for later on in life. Right now, I'm only 19 (almost 20), and I feel like this would be the perfect time while i still have some extra money, and no major financial obligations. I know this isn't exactly an investment firm or anything, but to be honest I'm not the most knowledgeable about it. So really, I was wondering about what would be a good idea, (i.e., mutual funds, CDs, etc), and a good source of information to put away some money for a long period of time and get a good return on the investment?

 

[DaveSimmons]

Roth IRA -- grows tax-free and you can take out money to buy a house without penalties. If you have earned income for 2002 you can still start an account for year 2002 for the lesser of your income or $3,000.

Easy way to set up: CD at eTradeBank.com (be sure to check the box to mark as Roth IRA) 100% safe gains.

Another choice higher risk for potentially 2-4x the gain: vanguard.com mutual funds, espec VFINX (S&P 500 index fund)

good articles: www.fool.com

 

[squirrel dog]

The roth is excellant for you.now for sure(war).

 

[kmac1914]

Is there a minimum amount you have to put in to start a roth ira?