Can investing at 16 years old give me the chance to be rich when im older?
Posted by admin in Finance Wednesday, 7 December 2011 12:44 2 Comments
Im 16 and im already into business.
Investing my money into shares and things like that i believe could help me make some profit, but would it be enough to have me become a multi millionare when i get older?
If not what could i do?
I would be very wary of your investments; the economy looks like it’s ready to sink in the next few years. The ridiculous national debt, excessive fractional banking increasing the money supply, people buying things that they cannot back up with real cash but only credit, oil/gas skyrocketing, general inflation, a war which seems like it’ll never end, outsourcing, the housing market, etc. A depression usually occurs periodically.
Anyways, I think stock investments will do little good for the next decade, but, once the economy rebounds, you can most certainly make a solid living on investing. In fact, some people make millions a year doing it full-time, but not everyone.
Oh yeah, do something you like, or your life will be miserable.
But, if you desire this path and do you like it, try going to college and majoring in Finance first and foremost. Then try a Mathematics double major if you are ambitious enough. Afterwards, try to get to a good MBA program, concentrate in Finance to refine your skills further.
I wish you the best of luck.
The first answer you received is ill informed.
The answer to your question is YES!….. but do it the smart way! Don’t invest in companies because you “feel”, “believe” etc. that they’ll go up! READ READ READ….. read some good books on investing, stock investing and mutual fund investing. By being more knowlegable you’ll reduce the “gambling” attitude many new investors approach he market with. You’ll also reduce the common mistakes of new investors.
I wish that I had started learning at your age. You’ll be giving yourself a great gift!