Aside from saving the money, what is the best thing a 22 year old can do with £9000 especially to try an increase it?
Assuming university fees and everything are already taken care of, you still live with your parents and aren't intending to move out until you're like 25.
Is investing in shares and stocks a good idea? Is it easy to make money like that?
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You would need to decide what type of investor you are meaning do you prefer a hands on approach by trading/investing your own money or would you prefer a professional adviser or money manager to dictate the investment strategies?
Because your young and have that kind of money your best bet is to look at diversification through Mutual funds or if your more active looks to ETF's (sector, geopolitical, inverse) ect
ETF's are great in that they offer a basket of stocks or underlying securities and you can trade in and out of them each day at little commission cost. Mutual funds are great in that they are actively managed (unless you buy an index fund) so you don't have to dictate what stocks or bonds or synthetic securities to pick as they MM does all this for you. The downside is their are A, B, C shares that have different charges that you need to familiarize yourself with.
I suggest you don't just take the offer of someone willing to invest your money without doing a proper vetting of their record. If they are liscensed you can check with FINRA broker check or if they are OTC than they would be registered with NFA, SEC ect so make sure they are registered or have a proper investment company that is incorporated. Make sure they have a track record also as this is VERY important don't go with a guy who increased the account 10% but risked 90% of your capital to get it.
If you want to invest the money yourself look to trade options, or buy shares of ETF's/Mutual Funds if your time frame is a bit longer.
Never give your money to someone else to invest if they are incompetent because if there is one thing the internet is littered with is shotty websites teaching you how to trade or invest and they charge thousands of dollars for this 'class' when you could just get the same information at your local library for a few dollars of late charges.
Check out Finviz.com for screening ETFs, Stocks ect on a fundamental and technical perspective most of that site is free.
Check our Morningstar.com to review and compare performances of Mutual funds that fit your investment type or risk tolerance.
Check out Investopedia.com to learn about finance and investments more as they offer easy to read articles and knowledge on everything from Stock buying, Estate planning, Taxation, and Obscure investments like Derivatives and OTC markets
You certainly can invest in the stock market. Over the long term--and by long term I mean periods of time measured in decades--shares have historically outperformed other asset classes. So if you want to start saving money for the long term, then investing is a good idea.
However stock prices are quite volatile, so if you need access to the money in the near future (ie the next couple of years) then you might invest it someplace safer, because stocks can drop by quite a lot over short periods of time.
I would strongly suggest that you do some research before investing, and make sure that you diversify--if you buy several investments it's much less likely that they'll all go bad and that you'll really lose a lot of money.
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Hi Lover,
Yes; you can invest a portion of that amount in shares and stocks and make good money by the time you are 25. If you are interested, please get in touch with me and I will advice you accordingly.
Regards,
M