Quote:
Originally Posted by frito125
Hey im new to investing. Im a 24 year old guy looking to invest in a savings account. My dad thinks i should put my money in stocks and i will make more money if i keep it in there for a long time. I dont really know anything about stocks.
which is a better idea? Stocks or a high yield savings account?
and if a savings acount which is a good company with a steady apy? I notice that some may be really high now but they could go way down in a month or so.
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Your Dad is right. In savings account you will not get good return.
In stocks you can make more money, but there is some risk involved.
But, I wouls siggest you to invest in mutual funds. This is more safe than stocks and also gives better return than savings account.
If you don't have much time or you find difficulty to decide, find a financial planner who can do this for you.