moneymatters
Full Member
Cash: $ 16.50
Posts: 88
Joined: 30 Dec 2005
|
| Retirement plan |
 |
|
im only 13 right and i think it's dumb that people don't just make a savings account with a well known company like barclays.
I suggest you just start a savings account and put the amount of what you decide every week.
+PLUS what if other retirement plans run off with your money.
|
Fri Dec 30, 2005 12:43 pm |
|
|
Dus10
Member
Cash: $ 3.40
Posts: 17
Joined: 30 Dec 2005
Location: Indianapolis
|
You sound like a very smart kid! Affinity Bank is offering a special savings account to kids where you earn 10% on your first $500. You may want to check it out. Also, you may want to check out this MSN Money Central article on starting your first $1 million at 16; you are obviously younger, and you could have even more.
|
|
Fri Dec 30, 2005 1:37 pm |
|
|
debtfree4life
New Member
Cash: $ 1.05
Posts: 5
Joined: 30 Dec 2005
Location: New Jersey
|
| Federal savings account? |
|
|
The thought acually crossed my mind but i don't like the goverment handling my money i keep my money in money market accounts. I earn more money on average then regular savings accounts. what i suggest is dividend reinvestment plans or (drips) for short.
since your so young you have the time of compound intrest on your side. you could be a millionaire by 30 easily if you invest right.
|
|
Fri Dec 30, 2005 6:39 pm |
|
|
moneymatters
Full Member
Cash: $ 16.50
Posts: 88
Joined: 30 Dec 2005
|
i dont like unknown investment companies because they could easily just be a scam to take all of your money away.
|
|
Fri Dec 30, 2005 7:07 pm |
|
|
|
