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Investing For Students
Posted on 2/1/13 at 8:47 am
Posted on 2/1/13 at 8:47 am
I am trying to figure out a decent way to do a little investing on a student budget, I have about 4K on hand in savings, I would like to find a way to have my money work a little bit for me. The only debt I have is a car note, and I make enough between the bar and my day job to be okay and still keep putting money away.What are some strategies or advice that I might be able to use?
5
Posted on 2/1/13 at 9:38 am to chesty
inb4 roth IRA
Posted on 2/1/13 at 9:39 am to chesty
I would pick 3-4 very well rounded ETF funds and just spread your money out between those. Maybe even just put it all in a diversified target date fund.
You dont want to waste your time trying to trade a bunch of different stocks because any potential gains are just going to get eaten up by transaction costs.
You dont want to waste your time trying to trade a bunch of different stocks because any potential gains are just going to get eaten up by transaction costs.
Posted on 2/1/13 at 10:33 am to chesty
Use Sharebuilder.
They are very friendly with small investment amounts.
You can buy fractional shares, and buying shares as part of an automatic investment plan is only 4 dollars each.
(or 12 dollars a month for their premier services, which include credit for 12 transactions a month and only a dollar for additional transactions).
With 4k in savings though, I would consider dumping it into an Vanguard mutual fund that you like (directly, not through share builder).
They are very friendly with small investment amounts.
You can buy fractional shares, and buying shares as part of an automatic investment plan is only 4 dollars each.
(or 12 dollars a month for their premier services, which include credit for 12 transactions a month and only a dollar for additional transactions).
With 4k in savings though, I would consider dumping it into an Vanguard mutual fund that you like (directly, not through share builder).
Posted on 2/1/13 at 10:47 am to chesty
quote:
Investing For Students
Would have been glorious if you went to LSU from say 1996 to 2000. I think interest rates were only a few percent on student loans, invest it, would have had the market pay you to go to school.
Would have been sweet.
Posted on 2/1/13 at 12:05 pm to Teddy Ruxpin
I know some brave souls that day trade their student loans.
Posted on 2/1/13 at 4:42 pm to Siderophore
quote:
I know some brave souls that day trade their student loans.
Posted on 2/1/13 at 5:11 pm to Teddy Ruxpin
It works pretty good for them so far, but they gotta fall flat on their face sooner or later.
Posted on 2/1/13 at 5:18 pm to Siderophore
quote:
It works pretty good for them so far, but they gotta fall flat on their face sooner or later.
Ya, I'll call you skilled when there are more losers than winner in the market and you are still making money.
Posted on 2/2/13 at 7:49 am to chesty
Spend this money on something fun while you still have the time. I had some savings in college and decided to blow it all doing a semester abroad in Europe and couldn't have been happier with my decision. If you can graduate with no debt and a decent job lined up just have some fun with the money. Once you start working you won't have the time to do all the fun shite you got to do in college.
Posted on 2/2/13 at 8:04 am to jso0003
quote:
You dont want to waste your time trying to trade a bunch of different stocks because any potential gains are just going to get eaten up by transaction costs.
This x 1000
I don't ever make any buy transaction if the amount is less than 5K
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