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How Can a College Student Invest Wisely?

Personal_Finance / Student Finances Apr 24, 2019 - 09:33 AM GMT

By: Submissions


Investing is an important issue at any age, and it’s an excellent opportunity to learn about finances and earn some money. When you're a college student, though, that's a huge advantage and responsibility, especially if to think that you need to find and give up some money for this hobby. Therefore, some people think that you should only start after graduation, but we cannot agree with this statement. Of course, not every student has the extra money in his or her pocket, but if you do find some – that's a good chance to stand out from the crowd.

Reasons not to wait for graduation to invest:

  • getting started – usually starting out is the hardest and the most meticulous part that you’d always love to skip; if you start out as a college investor, it’ll be easy for you in the future, and you won’t have to deal with it when you’re already working;
  • making the experience – investing in college  is a good way to learn about money and finance, and you'll already have some experience with investing at the young age which can benefit you in a future career; you'll learn something no one will tell you about is school and college and on the internet;
  • growing – you become a college invest now with limited income when you pay to write essay and can grow a lot bigger with your experience online and growing salary after you graduate and start working without the need to buy essay.

How to start and what to choose

You can't find a big amount of money when you're still studying, but there is a way to start investing. For sure, you wouldn't want to spend all your pocket money on that, and you're most likely spending it on writing service to get your assignments done, yet, even the smallest amount of $20 or more every week can help you start.
Stocks are the best way to start nowadays, especially if you're so young because they are constantly growing and making your income grow, too. When you graduate and would want to use it, it'll come handy just in time.

There are two ways how to invest as a college student:

1. Managed. One of the convenient ways to start for those who don't have enough free time to handle everything that comes with this hobby. Your manager will help you with every step, be it creating a portfolio or balancing it after you're already finished. They will give you details of your investments and try to have the best deals. You only have to pay.
The managed way can be:

  • Robot-advisors – automatic online investment management services that can help you start investing with $0;
  • Mutual funds – funs family that manages your investments, require $1000 or more.

2. Self-directed. That’s the opposite of the first variant, and you’ll have to handle and manage everything by yourself apart from handling your money. This way is pretty inconvenient for those who are busy with essay writing and don’t have time for all the detailed work.
Of course, the best way to start is to have a managed account with robot-advisors as most teenagers don’t have a lot of funds to handle yet. When money gets into your opened account – it will be automatically invested, and you won’t have to worry about how it’s going.

Best robot-advisors:

  • Betterment – is named as the best robot-advisor out there as you can manage everything through it and don’t have any issues and no huge or hidden fees;
  • Motif – is not as usual as other services, because here you can fund a list of organization of the industry you’re interested in;
  • M1 Finance – this service gets free after you have $100 and it lets you pick where to invest without getting you worried about other things.

Anyway, remember that investing is a very important and serious occupation, so treat it seriously and think before managing your money.

By Alex Moren

© 2019 Copyright Alex Moren - All Rights Reserved

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

© 2005-2019 - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.

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