What is the best way to start investing as an 18-year-old?

I am 18 years old. I have money but I want to double the amount that I have. Where and how should I start?

Sort By:
Most Helpful
March 2018

Open up a mutual fund account and setup a monthly bank draft of a regular amount to be taken from your bank account and into the mutual fund.   Do this every month and increase the amount ever year by some amount (it doesn't have to be a big increase, just an increase) and you will be rich beyond your expectations years from now.  

There is no real way to double your money in the short-term, chasing that goal will leave you broke in the long-term.  Pick a mutual fund that invests in stocks that pay dividends. Good luck.  I would suggest that once you finish your education and get your first job that you hire a Registered Investment Adviser who is a CFP.  Check with the XY Planning Network, they are professionals who work specifically with younger generation clients.

March 2018
March 2018