- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Investing in College - Need Advice
Posted on 2/13/12 at 4:33 pm
Posted on 2/13/12 at 4:33 pm
This summer I will be working in an internship where I should make about 15-20k. I was just wondering if anyone had any advice how I should invest most of this money. I don't want it just sitting in a normal savings account when I could be making some interest on it somewhere. I would appreciate a little guidance on investing. Thanks in advance! 
3
Posted on 2/13/12 at 4:38 pm to NorthshoreTiger225
quote:
This summer I will be working in an internship where I should make about 15-20k
If you're making 20k in a 2-3 month summer internship then i suggest quitting school and doing it full time.
But other than the best advice you can get is to educate yourself with books and beginners investment guides. Most people on here will say to open a Roth IRA and put some money in ETF and other mutual funds that give broad spectrum diversification, low expense ratios, etc.
I'd say do the above, but in addition, blow some on a trip with friends to Mexico/Vegas/wherever. Money doesn't last forever but memories will. Just my opinion.
Posted on 2/13/12 at 5:22 pm to GregYoureMyBoyBlue
quote:
If you're making 20k in a 2-3 month summer internship then i suggest quitting school and doing it full time.
Seriously, tell me more.
Posted on 2/13/12 at 5:30 pm to NorthshoreTiger225
Petroleum Engineer?
Posted on 2/13/12 at 5:34 pm to Lil Man
PEs start out making 110-120k a year?
Posted on 2/13/12 at 5:52 pm to Sherman Klump
No, but they pay out the arse for interns.
Posted on 2/13/12 at 6:28 pm to TheHiddenFlask
I got ya. I figured most intern wages translated into what the full time pay was just over the course of a whole year. At least that is how the accounting ones work.
This post was edited on 2/13/12 at 6:29 pm
Posted on 2/14/12 at 9:16 am to NorthshoreTiger225
quote:
This summer I will be working in an internship where I should make about 15-20k. I was just wondering if anyone had any advice how I should invest most of this money. I don't want it just sitting in a normal savings account when I could be making
I would shoot for 2k in your checking, 8k in your savings which should be realistic after taxes+expenditures.
You will most likely need that 10k at some point in the immediate future if you havent graduated yet.
Posted on 2/14/12 at 9:26 am to hiltacular
Why so low on the checking? I think 5 is a healthy amount to cover just about anything that comes up.
Posted on 2/14/12 at 9:51 am to wegotdatwood
2,5,10 it really doesnt matter. I would just shoot for 10k in an instantly accessible account.
What ratio he puts in checking/savings really doesn't matter unless he is concerned with making some interest but that will be too small to see anything worthwhile.
What ratio he puts in checking/savings really doesn't matter unless he is concerned with making some interest but that will be too small to see anything worthwhile.
Posted on 2/14/12 at 9:14 pm to Lil Man
Close. Mechanical engineering. And to address the question, I would quit school right now and work full time... If I didnt have to have a degree first. Haha
Posted on 2/14/12 at 9:16 pm to Sherman Klump
quote:
I figured most intern wages translated into what the full time pay was just over the course of a whole year. At least that is how the accounting ones work.
You know they don't pay you overtime when you're full-time right?
Posted on 2/14/12 at 9:50 pm to kfizzle85
I was gonna say, Ive heard you make more as an intern than as a first year.
Posted on 2/14/12 at 11:45 pm to wegotdatwood
quote:
Why so low on the checking? I think 5 is a healthy amount to cover just about anything that comes up.
I'm not sure what expenditure you'd have to make over 2k that wouldn't afford you the time to transfer money from your savings account. I think most debit cards have a daily POS transaction limit of ~2-3k.
Posted on 2/14/12 at 11:48 pm to kfizzle85
Yup, well aware. I was talking about the hourly wage for a 40 week equated to what entry level staffers make. Yes, I know you work over 40 hours a week. Come on scrub, this aint my first rodeo.
Posted on 2/14/12 at 11:49 pm to reb13
You know you do not intern for a whole year
Posted on 2/15/12 at 12:19 am to Sherman Klump
Yes, I do realize that. I meant pro rated. I thought most people would be able to deduce that.
Posted on 2/15/12 at 7:36 am to reb13
It was sarcasm, I thought you would be able to deduce that. I was making a stupid response, like kfiz had made.
Posted on 2/15/12 at 2:57 pm to Sherman Klump
spend 90% on a a trip to Thailand, whisky, and women. And then waste the rest.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News