I’m seeking opinions from the Doper masses…
Just for the needed background info, I’m 25, working 40 hours a week in a factory. The job is looking VERY soft, and I’m not sure how things will work out into 2009. I have four years in (seniority) but I don’t know how much good that will do. Truck is paid off. Living arrangements are good.
Right now I have a decent amount of cash sitting in savings at the bank. Interest is near squat, and I feel that I really should move it into something with some returns…
I’ve always been VERY leery about investing in the stock market (the latest stuff is one reason why) but after starting a 401K and going to meetings, I do believe that it is the best for long term wealth…and now that the market is low, it’s good to get in?
So I’m thinking about taking some of my free cash and starting an investment portfolio. Or whatever it’s called. I still know next to nothing about investing…and to tell the truth, I’d like to stay “hands off” of it. I know that meddling with it over and over never does any good.
The only problem with this investment idea is that I’m considering going to college. Heck, I NEED to go. I’m just not sure when. I’m still completely lost as to what degree to look for (which is another subject entirely, I’m a history nut), BUT I am thinking I will try to go in a year or less?
I do not plan on putting ALL my savings into the market, but at least 10%. Is this a smart idea, or should I keep it available (in savings)? Any other suggestions would be appreciated.