Re: is there anything i can do now as an 18 year old?
It's good to see you are so young and wanting to look towards your financial future. By tax day 2008 you should be able to put $4K in for a Roth IRA contribution (if you have at least that much in 2007 earned income) with $100-200 leftover.
As someone else stated, don't do dumb stuff like wasting money. I think, because you are so young, that this advice is significantly more important than what to do with the money you've got. I think by the time people are 25-28 they start to realize how much they've spent and how stupid it was. If you can keep from doing this at a young age AND invest in long-term index funds (such as a Target Retirement fund through Vanguard Roth IRA), you will be owning everyone by the time you are 40.
Good luck. I'm 28, and just began vigorously saving my money a couple years ago. I love it, and have a lot more peace of mind at this age than I could have hoped for.
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