college student investing
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Investing for beginners, investing vs saving

Investing for beginners, investing vs saving | college student investing | Scoop.it

Learning about investing is like walking and running, young college students should learn how to save before learning to invest. Savings will work for your investing, for example it can be as simple as depositing your hard-earned savings in a high-interest bank account.

The main reasons for investing are to protect the purchasing power of your money over time, and to accumulate wealth. Many investors, especially retirees, also want to generate a regular income from assets.

The return on your investment can be, for example:

If bank account: interestIf property: rent and an increase (or fall) in the value of your investmentIf shares: dividends and an increase (or fall) in the share price (shares).

If the return on your investment is higher than the rate of inflation, then your investment has delivered a real return.

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Investor Cookbooks: 529 College Savings Plans

Investor Cookbooks: 529 College Savings Plans | college student investing | Scoop.it

It's not too late to make a contribution to a 529 College Savings Plan and possibly reduce your state income tax bill (depending on your state and income situation).

 

One thing I like about my home state's North Carolina 529 College Savings Plan is the ability to utilize very low cost Vanguard Index funds. The one minor disappointment is the NC 529 Plan charges an additional 0.25% for for administrative expenses, but even that amounts to just $12 for each $5,000 invested.

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To Get Started with Online Investing

To Get Started with Online Investing | college student investing | Scoop.it

To get started you'll need to assess your options and create a plan. Figure out how much money you can realistically set aside for college student investing.

*Start with a small amount like $25 and increase your online investing contributions over time

 

*Calculate how much risk you are willing to take with your money

 

*Guaranteed investments like FDIC insured student savings accounts, money market mutual funds, or federal savings bonds, those types of investments deliver the lowest rates of return and won't let your money work as hard for you as it could.

 

*If you're willing to part with your money for longer, you can get your feet wet with mutual funds that are comprised of stocks, bonds and other types of securities

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