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post #106 of 118
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Originally Posted by appophylite View Post



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Originally Posted by Cankin View Post



Quote:
Originally Posted by mralexosborn View Post

 

I honestly want you advice, what can a 15 year old invest in? I can't own cars, property, land, or anything else I would want to if I could. What do I do?



You can invest in yourself with better education, how about that?

 

If you are seriously into investing, get a degree in accounting, economics, finance, statistic, engineering or even law.



While I always agree that an education is a good thing, I have to say that I definitely agree with Uncle Erik as well. I wish that when I was 15, I had played with investing some of my money instead of letting it sit in the bank. The return on interest on Savings, Checking and even the CD my mom convinced me to open up were useless, and at 15, with few obligations, bills, etc, it would have been the perfect time to play with investing in stocks and learning from loss.


I guess your mom asked you to open those so that you don't spend on useless things, not because of the lower-than-inflation return.
 

post #107 of 118

I've had a savings account in my name since I was 8 years old. Granted, I never had anything in it (I never got an allowance and any birthday/holiday money received went straight to my parents). When I got my first job at 16 and started making money, it all went straight to the savings account and checking account I had to open to accept paychecks in. There was never debate in my family about my opening any bank accounts to save money instead of spending it on useless things. My parents figured that, at 16, I should be left to my own devices regarding handling money, and in any case, they trusted that I wouldn't blow it all frivolously since they had 16 years to watch how I handled money when it was given to me. However, there was debate once I finally crossed the threshold of my first $1000 earned. My mother wanted me to put it in a CD so that it would gain a slightly higher interest rate than the savings account, and because she felt that was a safe way to grow my money. My father, on the other hand, wanted me to open up a small investment account with it because he felt that since I still lived with them and didn't have to worry about bills, rent, etc, there was no better time to learn about investing and stock markets than then since I could lose the money, and it wouldn't put me into dire financial straits. Personally, I wish I had gone with his suggestion as A), I dissolved the entire CD (to which I added money every year) last year with very little return on initial investment, and B). I would be much more comfortable being more hands-on with my current investment accounts now had I had a chance to play with the money way back when. I moved out of the house during college and had a roommate who had no job and everything paid for by his parents. I had to handle budgets, rent, bills, groceries and the works, and even before that, I had a healthy respect for the value of saving money. However, my parents never allowed my sister to move out like that, and as a result, they are constantly talking to her about the fact that she spends whatever money that doesn't go to fees and tuition left and right. Personally, I've found that when you are younger and you develop a health respect for how money works, you are more likely not to be frivolous with it when you are older which is why in hindsight, I wish I had invested some money when I was that age instead of just letting it sit in savings essentially doing nothing.

post #108 of 118
Thread Starter 
Quote:
Originally Posted by Cankin View Post



Quote:
Originally Posted by mralexosborn View Post

 

I honestly want you advice, what can a 15 year old invest in? I can't own cars, property, land, or anything else I would want to if I could. What do I do?



You can invest in yourself with better education, how about that?

 

If you are seriously into investing, get a degree in accounting, economics, finance, statistic, engineering or even law.


Actually I am hoping to get a degree in either mechanical engineering or petroleum engineering and maybe economics. Georgia Tech would be my ideal school, but I doubt I can get in since it is a top end school.

 

Also, a coin dealer in my area is willing to sell me 1922 or 1923 Peace dollar for $25. The melt value is $22. Not too bad. Also he is willing to sell my silver Eagles for $32 which is fantastic since I would only be paying about 4% over the sell price (of an Eagle, not silver). Not bad. 

I don't know, the "shiny stuff" is just so appealing. By collection, I meant of precious metals, not really coins. Coins appeal to me but they can be worth nothing except numismatic value. Also Mr. Cramer sees PM going up in the future, so do others. That's what I see. 

I can't invest now, my parents think I should get a bit more cash before I do, upwards of $500. I agree with them. 

post #109 of 118
Quote:
Originally Posted by Uncle Erik View Post

Similarly, I'm thinking about buying a fully depreciated Corvette or Harley.
A convertible Vette with a stick *and* a Chopper,wise investments always that you will love...500

 

 

 

 

 

post #110 of 118
Thread Starter 

I got a 1988 Silver Eagle over the weekend for $32, which isn't too bad. If they still can offer me the same price this weekend I may buy a couple more. 

post #111 of 118
Thread Starter 

Silver. Yeah man. I feel like Charlie Sheen sans the alcohol, drugs, and porn stars. 

post #112 of 118
Quote:
Originally Posted by mralexosborn View Post

Silver. Yeah man. I feel like Charlie Sheen sans the alcohol, drugs, and porn stars. 


Got any Adonis blood in you?
post #113 of 118
Thread Starter 

I own silver so by default, yes, yes I do. 

post #114 of 118
Thread Starter 

Thought I'd bring this thread back to life. I have made quite a bit of money. I bought it at $29.16. Price with shipping was $325. And paid $32 for a silver eagle. I have made roughly $60. Not bad, eh?

 

Now I want to invest into a stock or two. I have $500. I was thinking Intergrys Energy (TEG) or Dominion (D) or maybe something with the potential for growth AND dividends such as Verizon (VZ). What do you guys think?

post #115 of 118

I think you should put your money in an index fund.  That or flip a coin to determine which stock in which to invest.  Same difference.


 

post #116 of 118
Thread Starter 

Why do you say that? 

post #117 of 118

Because based on the information available to you, you have as much of a chance picking a stock as a coin flip. 


 

post #118 of 118
Thread Starter 

Haha good point. Meh, 

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