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August 17, 2013

A Word of Advice: It's never too early to start investing

In the middle of the summer, after working your job for some time, you may find yourself sitting on what seems to be a mountain of cash. However, without proper money management skills, you could easily level that mountain into a pile of change. 

Sitting with a fat stack of bills in front of your face can be tantamount to sitting with a plate of cookies in front of your face, so, it can be helpful to put your money in a jar somewhere you can’t reach. Or, it could be possibly more lucrative to take that money and plant it into the ground, waiting for it to grow into a big money tree.

Wild analogies aside, money can indeed grow quite rapidly, and you don’t need a stockbroker to make it happen. There are many simple investment opportunities that a teen can take advantage of. Markets in things like commodities (tangible objects such as precious metals) have been doing generally well even in a rougher economy. 

Some good choices that are easy for a teen would include metals such as silver. Silver, unlike gold, isn’t insane in price. An ounce of silver can be had for less than $50, unlike gold, where an ounce can bring more than $1,000. Silver is also at a lower point in price than the usual market high, so it’s logical to think that the price could later rise, leaving you with a higher value than what you paid. Once it does, the silver can be resold to another buyer for that higher price, which leaves you with more money in your pocket than what you put into your investment.

It’s very important to make sure that if you do buy a commodity or material, such as silver or copper, you buy it from a trustworthy dealer to ensure that what you’re buying, and eventually selling, is the real deal.

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