Investing: How should a 22-year-old invest his/her money?
It is never too early to invest money. Should it be started at 22?
Yes, investing early is the best way to go for retirement or just the future in general. At the age of 22 you can bear more risk that someone my age who doesn't have the time to earn it back in case of losses.
Study mutual funds by going to the websites of places like T. Rowe Price, American Funds etc. Smart Money magazine has a great website with lots of info for the beginning investor.
If I were you and just starting out, I would have a visit with a fee-based investment counselor. That way they are not trying to sell you something and you can pay for a visit and get some good info. on where to begin.
At this stage of life, I believe it is best to invest in the market through a retirement account emphasizing growth. Had I invested early in my life with this idea, at age 62 I would have quite a savings account. It is the power of compounding. Over 15 years with a company investing in growth with a small percentage of my income, I have seen my account reach an amount I never thought possible. Another retirement acct I early on invested safely in bonds, for interest only is still a small sum even after 25 years. Investing regulary every month in a growth retirement acct at age 22 can add to your retirement at age 60 considering you would be investing for 38 years. Good luck.
Best option is to start a SIP (Systematic Investment Fund) is a diversified equity mutual fund.
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