Here's how college students can start investing — and making — money. investinyou (In partnership with acorns.)
. Some allow you to make individual trades in stocks, bonds and mutual funds, and others have you choose your risk level. And then it automatically invests your money in mutual funds that match that. So, do some research. Choose one. If you feel like it isn't working for you or you're curious, try another one until you find what's right for you. There's no one right or wrong way to invest.3.
Han recommends students invest in index funds because "you put some money in it, can set up automatic recurring purchases and have dividends automatically reinvested on their own."The key, experts say, is to diversify, which means have a variety of investments in different things. Don't put all of your eggs in one basket. That keeps balance, and if one investment is going down, another might be holding steady or going up.
It's OK to get advice from friends when investing, but you need to do your own research and you need to be diversified. If your friend says buy XYZ stock because it went up for them, don't just buy that and leave it at that. It could go down for you. So, if you're diversified, you have a cushion for that.Risk is an important factor to note when you're choosing what to invest in.
Tabias Edwards, a senior at the University of Missouri-Columbia studying communications with a minor in personal finance planning, started investing after high school in 2018. He bought a course on Instagram and was able to educate himself through that platform. Through Edward's investing journey, he said one of his big mistakes was not accepting he lost money and not having the knowledge of how the market works.
And remember: You only really lose money if you panic and withdraw your money when your investment is down. So, if it's down, you might want to consider leaving it alone until it bounces back. "It's very easy to believe that options trading or penny stock trading is an easy way to make money when you see many people posting their huge monetary gains online," Bianculli said, adding that social media allows for misconceptions to be spread regarding the success rates of these risky strategies.
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