I'm in college I have an extra $1000 to invest. What should I put it in long-term?

Best Answer:

joe: In my opinion, a market based ETF like QQQ, DIA or SPY that tracks these major market indices is the safest way for amateurs to invest in. This is because when you trade these ETFs, since they are tracking these major indices and therefore largely the market itself, you are not undertaking the idiosyncratic risk and secondary risk of investing in individual stocks. Idiosyncratic risk is the risk that the stock itself may not do well even if the market does, secondary risk is the risk that the industry that the stock is in may not do well even if the market does. By investing in these ETFs, which is simply something you buy which is exactly like a stock, you are undertaking only one out of the three investment risks, which is systemic risk. Systemic risk is simply the overall market risk which means that if you buy these ETFs, when the market goes up, you almost GUARANTEED to make money with it… this alone is something even professional stock pickers CANNOT guarantee you they can do! This alone is so powerful there is no reason why amateur traders with lower risk tolerance and professional analytical expertise should not do this.

Other answer:

Buy silver coins.
IN the bank, child.
Here is absolutely NOT the place to start.
Even asking here means u don't have a clue.
Try visiting Dave Ramsey website for enlightenment education about money debts credit card score slavery and life in general b4 wasting your money.
It depends on when you expect to need it. Like if you have to buy books next semester, or a deposit on an apartment, then put the money in your checking account. With a CD, you are required to leave it there for a specified amount of time, like 6 months, 1 year, etc. and there could be fines for early withdrawal. $1,000 is not a lot of money when you are in college.
1000 is not a large sum, it you want it somewhere safe get a CD.

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