ANSWERS: 2
  • I would suggest calling Vanguard. They are a good, low-fee investment company. https://personal.vanguard.com/us/home If the 18 years old wanted to have an online account and have quick access to money, an ETrade account might work as well. Although, the start up deposit is usually around $1000.
  • So great that you're interested in this so young!!! Start reading some magazines to get educated on the subject. I started with Money and Kiplingers. Personally, I'd go with mutual funds because you don't have all your eggs in one basket and they're being managed by professionals. I'd pick no-load funds from one of the big fund families like Fidelity or Vanguard. You don't have to have alot of income. Getting into their funds takes very little money. Automatic investing programs are great too. Some start as low as $25 per month. Good luck to you and do follow through. The money piles up very nicely this way- alot better than sitting in a savings account in a bank!!

Copyright 2023, Wired Ivy, LLC

Answerbag | Terms of Service | Privacy Policy