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Investment Options for a 20 Year Old
Well, as stated, I am a 20 year old College Junior working full time while going to school. Currently, I am only going to make about 18k this year, but I am going to try to put about 2000-2200 away per year from here on, increasing it when I can. I will try to make 2k a minimum.
My question is, what are some options for investment? I have heard of a RothIRA but I am not familiar with these. I am researching as we speak, but was just curious, because I know, at least in the past, this forum has had its share of accountants and financial buffs.
Recommendations? I might consider splitting the 2k a year up between short term and long term investment. Is that smart?
Edit: Sorry, I left out that I have an initial investment amount of 4k separate from what I hope to be able to contribute this year.
Well, as stated, I am a 20 year old College Junior working full time while going to school. Currently, I am only going to make about 18k this year, but I am going to try to put about 2000-2200 away per year from here on, increasing it when I can. I will try to make 2k a minimum.
My question is, what are some options for investment? I have heard of a RothIRA but I am not familiar with these. I am researching as we speak, but was just curious, because I know, at least in the past, this forum has had its share of accountants and financial buffs.
Recommendations? I might consider splitting the 2k a year up between short term and long term investment. Is that smart?
Edit: Sorry, I left out that I have an initial investment amount of 4k separate from what I hope to be able to contribute this year.