2/17/22, 9:10 AM
How to Invest as a College Student | by Peter Bubel | Feb, 2022 | Medium
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Peter Bubel Feb 17 · 3 min read
How to Invest as a College Student
As a college student, investing can seem like something you don’t have to worry about until you have a “real job.” However, getting familiar with investing early on is a great practice! One of the best ways to do this is using an online broker platform. These platforms allow students to purchase stocks and bonds without paying any commission. In addition, these platforms offer a wide range of options that let students diversify their portfolios with a variety of investments. Here are some tips for getting started investing as a college student.
1. Consider Starting With a High-Yield Savings Account or CDs You first need to open an account at your local bank if you haven’t already. These accounts are savings accounts and come with higher interest rates than regular checking accounts. https://peter-bubel.medium.com/how-to-invest-as-a-college-student-bdb3b9e3f02b
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2/17/22, 9:10 AM
How to Invest as a College Student | by Peter Bubel | Feb, 2022 | Medium
You can use these accounts to slowly save up for a down payment on a house, car, or even college tuition.
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2. Turn to a Free or Low-Cost Broker Getting started investing as a college student is not always easy. Many students are nervous about investing in the stock market and do not know where to begin. This is why it is essential to look for information that will help you choose an online broker platform that will allow you to invest without paying any commission. In addition, some online brokers offer free or low-cost accounts with many of the same features that traditional brokers provide. This means that you can start investing without spending a lot of money on a stockbroker platform.
3. Invest a Little Each Month No matter how much money you make at your job, it’s a good practice to invest a little bit each month. Even if it seems inconsequential, small amounts will add up over time. The best way to do this is by using a cash management account. Cash management accounts allow you to set aside money from your paychecks and invest it in the stock market. They also come with valuable tax benefits for investors.
4. Sign Up for a Robo-Advisor Robo-advisors are online brokers that offer a wide range of investment options. They provide students with the same services that regular brokers offer, but they do not charge commissions. Many of them offer free trial periods before they charge fees. This means you can try out their service without paying a fee in the first place to ensure it works well for your needs. The above tips are some of the most valuable tips on investing as a college student. However, keep in mind that investing is not always easy, and it can come with some risks. It is best to start small and build up your portfolio over time and consult people who are more familiar with the process while you’re learning the ropes.
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2/17/22, 9:10 AM
How to Invest as a College Student | by Peter Bubel | Feb, 2022 | Medium
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