Lifetime Investing - Begin as a Kid
The following list is your guide to profitable investing for a lifetime:
- Start a systematic savings program at the earliest age. Park the money in certificates of deposit or a savings account until to start buying stocks.
- Begin making contributions to a Roth IRA as soon as you earn taxable income from a part-time or full-time job.
- Own shares of the 500 largest companies in the United States by owning the Standard & Poor's 500 stock index (S&P 500) through index or exchange traded funds.
- Reinvest all dividends you receive.
- Set up a systematic schedule of contributions.
- Hold your shares for the long term.