Help a Dumb 19 Year Old Kid

[WFDeac]

Finance Experts,

I am a college student that has had some success with poker. However, I am really clueless when it comes to investing. I have about 16k right now separated as such:

-3k in online accounts (poker accounts and neteller) which serves as bankroll
-1k in checking account for expenditures
-12.3k invested in T-rowe price mutual funds. (Blue-chip growth (40%), capital appreciation (20%), growth stock (20%), Emerging European and Mediterranean (20%)

As I've read some of this forum, people tend to use vanguard for their funds....I didn't know this at the time I put a lot of my money in T-rowe Price. I read through the prospectus for each fund and such when I chose them but I didn't really know what I was doing. The funds on T-rowe have gotten about 0 total return in the 18 months I have had money in there....I know this isn't shocking or bad for aggressive stock funds. However, I still don't think these funds are the right place for my money.

I do not need to touch the money I invest....and I am contributing 400 dollars a month (and this will not change no matter what). Should I take all the money out of T-rowe Price and put it in some Vanguard Index Fund?

What would you do if you were me? I understand the value of compounding interest and I want to get an early start.

Thanks
Andrew

[Leonardo]

Without being arrogant, I'll give you a good piece of advice, perhaps the best you will ever get.

Money is the one place where you can trust no one. Investment advisors tell you something so they can make big fees from certain products. People who think they know about money often dont have a clue and will give you bad advice. You simply need to learn to take care of yourself. Read books, lots of them. There are lots of good books out there about investing, and the more you read, the better. Start out with something written by Suze Orman. Its boring but will give you a decent background. Then just churn through book after book after book and learn for yourself. Taking care of your own money can be an enjoyable thing when you know what you are doing. But dont read 3 or 4 books and think you know what you are doing. Read 30 or 40. Books about Buffett, by Peter Lynch, Ben Graham are all interesting and useful. Greenblatt has a good book. Read Warren Buffets letters to the shareholders of Berkshire Hathaway. Read about investing in real estate too. The more you know, the better.

For your immediate needs, you are doing well. THey are name brand funds that will do what you need for the time being. Learn for yourself and never take advice from others, they probably have a reason for giving it that involves them making money, or they probably dont know what they are doing.

Have fun.

[mcb]

id be careful of the emerging markets since the dollar is a bit unsteady and considering the large capital inflows theyve had.

since you are admittedly dumb regarding your investments a few index funds would be best. both domestic and international. there are a few threads about allocation already.

also, take this free advice for what its worth.