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Investments for a teenager? Invest now or wait?

February 6, 2011 by  
Filed under Silver Investment FAQ

I’m a teenager in high school. I’ve currently have up about $2000. I was wondering how I could invest this. I was thinking about investing in precious metals (mostly silver, maybe 0.25 oz of gold). Is this a good idea? Or should I wait until I turn 18 (around 1.5 years) and invest in a Certificate of Deposit or bond? Any other suggestions? Thanks.

Comments

One Response to “Investments for a teenager? Invest now or wait?”
  1. Reena says:

    Wait until you are 18 before you “invest”.

    In the meantime an adult can co-sign for a money market account with a credit union or bank and your money can at least earn a bit of interest until you are 18.

    Stay away from precious metals… because they are extremely high right now. No use buying gold for a $1000 an ounce. You want to buy when such commodities are low in price then wait for a spike and sell. Getting in at the top… doesn’t make money. Those are the fools that buy from the people that held it for years and are now ready to sell at a profit.

    You have 1.5 years to study investing…. get at it. The internet offers a wealth of information but be careful and use your own judgment. If it sounds too good to be true… it usually is.

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