best place for 1.2k lol :(

[MindGamez]

yea, i know thats not enough to do anything interesting with, im just wondering what would give me the best returns. im just a kid working a part time summer job, so i can keep adding to the original 1.2k amount, i might even be able to take out another 1k from my checking account. advice is appreciated

[Statutory]

The best place to put it is highly dependent upon your timeframe for investng. Most likely you should put it in a high yeild online savings account.

I know the 1.2 k doesnt seem like much compared to the numbers you see thrown around here all the time. However, getting in the habit of savings throughout your life, even if it seems small, will make everything alot easier.

[kidpokeher]

According to S&P, the S&P500 has returned an average of 10.44% since 1926. You say you're a kid so I'll assume you're 18. $1,200 in the S&P500 at 10% interest compounded annually will become $105,836.98 by the time you reach retirement age. That's without adding one penny to your original investment. Sometimes it's good to be a kid, especially when you're saving money. Now don't you feel better? [img]/images/graemlins/grin.gif[/img]

[JJSCOTT2]

[ QUOTE ]
According to S&P, the S&P500 has returned an average of 10.44% since 1926. You say you're a kid so I'll assume you're 18. $1,200 in the S&P500 at 10% interest compounded annually will become $105,836.98 by the time you reach retirement age. That's without adding one penny to your original investment. Sometimes it's good to be a kid, especially when you're saving money. Now don't you feel better? [img]/images/graemlins/grin.gif[/img]

[/ QUOTE ]

Unfortunately, that will only buy you about ~$30K in today's dollars, but hey that's still pretty good right.

[ski]

I'd probably use it to rathole Party's $25/50 games. buying SPY isin't bad either.

[solucky]

I am not from US, but if you are really interesting and willing to spend time for investing.

1. spend 50-150$ in a few books

2. go to a onlinebroker and open a virtual depot and play/learn the stockmarket without own money

3.invest your own mony, 1500-2000§ are enough to start with 1-2 companys.

[bet2win]

just keep it in a savings account that pays some interest

$1.2k isnt enough to invest in stocks, wait until you have $5k

books and virtual trading are a good idea if you want to invest in the future

[Tien]

I agree with bet2win.

Park that money in a bank and start investing in your education.

Your education about money will give you the most returns.

[Fishhead24]

Fine art

[mbishop]

1/3 acre of Iowa farmland