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What's the best way for a 20 year old to invest $5,000?

I would like to invest $5,000. If invested, I would plan not to touch that money until age 35. I want to put the money away and sort of "forget" about it while I go through the next 15 years of my life. I would like to have all profits reinvested during that time. I am considering the S&P 500. Is this my best option?

Financial Planning, Investing, Starting Out
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May 2017

15 years is long enough to invest in stocks, but, it's not long enough to just invest in one area of the stock market. I would look more at a more diversified mix of stocks. 

You also shouldn't be 'forgetting' a stock investment. Since you have a defined end date, you will want to move from stocks to bonds over the 15 years. You likely should not have everything in stocks if this is the end goal, your risks of having less are greater, but, then again, it's not a lot, and if you want to take your chances on what the markets do, then perhaps your 35-year-old self would be alright with an investment that could crash. 

April 2017
April 2017