I need economic advice please?

I'm 18, have a part time job and looking for full time. I'm going to be opening bank accounts soon and I was thinking that I would start with a basic savings account then when I have enough money accumulated there to maintain it with enough left over, I'd open a CD. Then I was going to just keep renewing the CD while depositing into my savings account. But I also would like to start purchasing stocks and bonds after a certain point. I'd just like some advice as to what is most sound for banking and how to begin investing?|||You're on the right track. Start with a savings account, but I'd want to have a little more than the minimum in it. Have enough (above the minimum) to allow for any unseen occurances as well. CDs would be a good next step. They're safe, insured, and local. Start small, remember that the money will not be available to you for quite some number of months. As for roll-over, you can determine that when the time comes. The important thing is that you are saving. The third thing I would recommend is that you get into a Mutual Fund. That will diversify your money among several stocks, and you can pick the investment strategy and degree of risk that you ar comfortable with.


You are wise to begin early ( at 18 ) and you'll be ok as long as you remember that investing is for the long term. The markets will fluctuate but don't panic, hang in there and you will succeed. Good Luck.