I’ve recently saved up about $1000 from an internship this summer and I want to invest.

Being only 21 and graduating from college in two years (engineering degree), I am not sure what to do.

I have been reading up on some things and am leaning towards opening an IRA and putting my money into a low cost index fund. I've also heard SPY and those kinds of S&P investments are good decisions too. I'm hoping to begin my investments now and once I start working full time I want to contribute more towards that. Or should I just put it in my savings account and wait til I'm employed to start a 401K and maybe a Roth IRA?

But before I do that, I was hoping someone could explain how I go about doing that. Is this a smart way to begin investments? If you're able to explain your thoughts as well I would love that a lot as well. Thank you for your help in advance!

Submitted July 13, 2017 at 09:22AM by NSR-Smite
via http://ift.tt/2ud1MFc

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