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I am a totally new investor to the world of stocks, index and mutual funds and very confused. I am looking for suggestions as how to best place my (14 yr old) sons small earnings from 1999 (about $1000).
He already has a Roth IRA (self directed)I set up for him with his earnings for 1998 in a self directed IRA that is producing nicely. This was a one time only investment in real estate that will be hard to repeat. The 1998 investment of $1,700 has given him a cash return of $1,100 after expenses that is now sitting in a money market fund at about 4%. This original investment should continue to produce about $1000 per year for the next several years.
My proposal is to put it(this years $1000 (1999 earnings plus $1,100 (from 1998 IRA ) in some form of stock,index fund, mutual fund or other investment.
All suggestion are appreciated.
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