Web Toolbar by Wibiya
 
 
 

GL PROFILES

More Friends = More Fun

 
 

GL
Tweets !

10 HOURS AGO QUIZ! How confident are you? http://t.co/DECUaJcD21 pic.twitter.com/qw1aemhvcv

11 HOURS AGO Wondering why things are feeling weird within your crew, Virgo? It's written in the stars: http://t.co/ka1pd6zf9N

12 HOURS AGO Still hungry? 11 ways to revamp your snacks and stay feeling full longer: http://t.co/VwUAMQaIcx pic.twitter.com/3o9p3Gawvb

 

sponsored links

Get rich right now: What you need to know about mutual funds


Sure, you could blow your babysitting funds on a sparkly party dress, and you could cash in on a cute new coat with your birthday money, but we’ve got a better idea. Sock some of it away (10 percent is a great place to start) in a special investment called a mutual fund.

 

What is a mutual fund, anyway?

A mutual fund is an investment that pools money from a bunch of different people to buy securities—a fancy way of labeling any sort of asset that is traded on the stock exchange, like stocks and bonds. When you put your money in a mutual fund, you pick which professional will manage your investment and what sort of things you want your money to be invested in.

 

Why is it a good place to put my money?

Mutual funds are a safe investment option because they are diversified, which means that whichever financial pro manages your money will pick and choose an assortment of places to put your hard-earned money—think stocks for big corporations and government bonds. Since you don’t need the money right away, these sorts of long-term investments are a great option. They’re low risk with good reward—far better than your standard savings account.

 

Where do I start?

Ask Mom and Dad to take you to the bank they use, and set up a meeting with the financial advisor there. Or if they have investments themselves, chat with them and see if they could connect you with their own investment manager.

 

Are you thinking about investing your money? Tell us in the comments!

 

 

 

BY BRITTANY TAYLOR ON 12/10/2013 8:06:00 PM

POSTED IN

< PREVIOUS   NEXT >   
comments powered by Disqus
X
 
What does your bedroom look like?




 
 

DIY alert: Stick out this season with stylish school supplies!

 

Show off your unique style this year with four too-cool-for-school DIYs from Duck Tape.

CLICK HERE to deck our your desk, luxe up your locker and more.

 
Posts From Our Friends

sponsored links