Stock Markets Exposed
Investing for Canadian Dummies?
I'm wondering about how the best route would be. I currently am 16 years old (and yes, i know, i need to be 18 to get into the stock market or else have someone older such as a guardian sign, etc.) I have saved up roughly $12,000 that I worked for and at the moment I am making 4% interest compounded monthly which comes to $40/month in interest. I am looking for a way to make more cash since i cannot get into the stock market yet. I have tried setting up a few small businesses in the past and have come up with some great product ideas, but obviously none of them took off. I'm pretty much losing my motivation and I don't know where to invest my money. Working at minimum wage just doesn't cut it. It's ridiculous. You cant even buy a 12" subway combo for $8 CAD. Any ideas or suggestions? Thanks.
Public Comments
- I'm not sure if this is a possibility in Canada but can you get an adult to open a Custodial Account for you? That way you can invest in the market and the money would stay in your name. Also don't discount 4% - that is not a bad rate! And after a little while of compounding you WILL be amazed at how fast it grows! All while you enjoy being 16!
- I can offer you 24% annually ($2,880.00 CAD) without risk. I am a Portfolio Manager with over a decade of experience in the Stock Market. Top 4 Answerer.
