Expert: Dr. Joseph de Beauchamp - 12/1/2005

Question
Hey, I'm a senior in high school and I'm starting to get an interest in investing.  I've got something that you might be able to help me out with.  I think that by summer I could have about $1000 stashed away.  I'm heading to college when I finish high school, and since my parents are paying my way, I don't need the money now.  What would be ideal is if I could get a little money squared away so when I'm done with college, I've already got savings in case I don't find a job right away or whatever.  What is the best thing I could do with that 1K for 4 or 5 years?  (I might be able to add some to that if I get a job on campus, but it'd be part-time so I wouldn't be adding much).

Answer
Dan,

I recommend a good mutual fund. You might want to go to the local library and look up Morningstar recommedations. You could also go to http://wfnn.info and look at the mutual fund recommendations. This is free. I think a mutual fund gives you much less risk and probably more return that hand picking stocks. Your reading pleasure is in the fund's selection of stocks and bonds.

Dr. Joseph de Beauchamp