Mutual Funds?

[ecellis26]

I'm brand new to the investment scene-- I've saved around $1,000 and I'm trying to figure out what's the best way to invest it.

I'm thinking mutual fund or IRA (that's the way my dad has steered me thus far). I'm a university student so I want to be able to touch it in about 10 years, but I also want to be able to add to it while I continue to save.

Thoughts?

[disneysteve]

Do you have an emergency fund? Do you have any debt?

An IRA is for retirement, so if you anticipate needing this money before then, that wouldn't be the way to go.

A mutual fund of some sort might be an option if you can leave the money alone for at least 5 years and preferably 10.

Seeing as you are a student, most likely you will need money in the more immediate future to start your life, rent an apartment, perhaps buy a car, etc. It might not be the best idea to tie up this money in a long-term investment, but I really can't say for sure without knowing more about your situation.