AboutJohn D Smith, CFP Expertise I can answer detailed questions regarding mutual fund investing, retirement planning, education planning and related financial planning/investment issues. I have a B.S. degree in Financial Planning & Counseling. I am also a Certified Financial Planner practitioner and have performed fee only investment management and financial planning services for the past 11 years.
Expert: John D Smith, CFP Date: 2/3/2008 Subject: First Time Investor
Question I will be attending university this upcoming fall and if all goes well I will not have any payments to worry about, thus leaving me free to utilize my money however I choose. If I happen to go the route and save money I will be able to save for up to 10 years without the need to touch it. I want to start investing as early as possibly so that by the time I need money, it will be there. How is the easiest way to go about this? Should I go through the services at my financial institution, or would I make more of a profit if I went through another? Any advice you can provide would be very helpful. Thank you, -Jeffrey
Answer How you invest depends on many factors, such as the amount you have to invest, the amount of guidance and advice you need, as well as your specific risk tolerance and financial goals. If you need guidance and ongoing advice, your financial institution may be the best route. If you are a "do-it yourself" person then investing through a discount broker such as Charles Schwab or directly through a mutual fund company such as Vanguard may make more sense. In any instance, your "profit" will be a direct result of your investment sucess and the return your investments achieve. If you want to share more details as to what you are looking to accomplish based on the above, I will try to offer more guidance. I hope this helps.
