How to invest 10k as a 17 year old
The most effective move is opening a Roth IRA and depositing as much as you can. Teenagers who build up savings through reselling often stall because they want to generate bigger profits but have no clue what to do next. Funneling the cash into an IRA prevents the common mistake of blowing it on material trash you will forget in a year.
What people tried
Every workaround mentioned in the threads below. We haven’t tested any of them — and nobody here is claiming they worked.
Found another way around this?
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How to invest 10k as a 17 year old
- 1Reselling electronics, clothing, and shoesDid this help you?
- 2Open a high-yield savings account (HYSA) or CDs to hold money for future needs like college or a carDid this help you?
- 3Have parents open a custodial Roth IRA or custodial brokerage account (at brokerages like Fidelity, Schwab, or Vanguard)Did this help you?
- 4Keep a set portion of each paycheck for personal spending and save or invest the restDid this help you?
- 5Keep earnings in a standard bank savings account until turning 18Did this help you?
In their words
Unedited, grouped by where they were said, most upvoted first within each place, each linked to the thread it came from.
“I want to save and invest it but have no clue what to do.”source ↗
“open a ROTH ira and put as much as you can, i wish i did that at that age. do not buy a bunch of trash material things that you will forget in a year (what i did)”source ↗
“I have been saving for the last 2 years and have saved 10k at 17 what’s the best thing to do with it I am currently unemployed and have just above 10k saved from reselling electronics clothing shoes ect but am looking to start making bigger profits and save and generate even more money.”source ↗
Where this came up
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