College student new to the world of investing...
February 5, 2011 8:59 PM Subscribe
Should I go with the stock market? Or perhaps something less risky such as a CD? How much knowledge do I need to thrive in the stock market? Halp!
posted by RaDeuX to Work & Money (24 answers total) 5 users marked this as a favorite
Me: 22-year old community college student transferring to UCSC in the fall quarter
Current job: Recently got hired as a valet. Attempting to work 15 hours a week without getting poor grades in physics and calculus
Goal: $20k+ for a kit car (I will ultimately be spending $30k+ for the finished product)
Alright, so I have looked at many options. Certificate of Deposit, stock markets, savings accounts, et cetera. Within those options, there are even more options. The amount of options I have are frankly overwhelming. A few years ago, I bought a book called "How to Invest $50-$5,000 9th Edition" by Nancy Dunnan. I skimmed through it years ago and I don't remember much of anything from it at this point in time. There is now a 10th Edition which came out after the huge economic crisis, so I'm not sure if the newer edition carries more relevant information than the previous edition.
In any case, I have $500+ in my bank account right now, and it just seems like a waste to just see it sitting there while being a victim of inflation. I would much rather have that money go towards something with a certain amount of gain (rather, as much gain as possible). The problem is, I'm not really sure where to start.