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What can a college student do to invest money?
I am fortunate enough to have about $2000 extra dollars in the bank that I don't need. This is separate from my savings and needed spending money. How can I make my money work for me besides earning barely any interest. What steps can I take to safely invest my money and how do I do so?
1 Answer
- ?Lv 77 years ago
Put it in the bank. There is no way to safely invest it better than that.
The stock market is not a magic machine for making money. It earns about an 8% return on average (it used to be higher, but the economy is more stable now).
On average. Maybe you'll be higher or maybe you'll be lower. For all that risk, you can expect an 8% average return. Or you can put the money in a bank account and spend it on living expenses and books.
