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How can I invest my money?
#1
I am 17 years old and want to figure out ways on how to gain money. I am unemployed but I save my money unlike my friends wasting away on silly things. What can I do with my money to gain profit such as investing? Should I buy stocks? I currently only have a small amount of $500 Cash, thank you!
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#2
While you have great intentions, it would be very difficult to set up investing with the amount of money you have. Stocks would be a great place to start except that $500 would be such a small amount that fees would eat up a large amount of it. If you had a job, you could save up some money to invest and go from there. I would suggest you place your $500 in a savings account or a term deposit. The reason being that you do not know what is going to happen from here, you may need that $500 for something important. If they are in stocks, it will likely cost you money to sell and the stock may have been down at that point meaning you lose out.

I suggest try finding a part time job first if you can. From there, you can either purchase stock using things called Direct Stock Purchase Plans (DSPPs) which is often a free way to buy stock, or you can purchase mutual funds that are taken out on pay day. DSPPs are often found on company "investor relations" pages or on stock transfer agent companies (eg. Computershare, America Stock Transfer etc.). Mutual funds can be found through your bank or some investment company websites. These plans often start for as little as $50 at a time per investment and allow your money to grow much more than a savings account.
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#3
Rich dad poor dad book Bob kywosaki made his money from selling books not from real estate, keep your money in your pocket you will learn nothing from his books or seminars, it is just hypd up garbage
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