RE: What are the best stock to buy for a long-term investment?
Hey everyone, I want to put some money in the stocks so I have money to pay for college. I have a couple years before college so i have no problem with a long term investment, maybe even a short-term investment if that would be smarter. So could you guys give me some companies that I can look into… THX
You don’t have enough time to invest in stocks for the purposes of paying college. The risks at this point are too high. If there is a market swing, and there are plenty these days, you will be wiped out.
You need shorter time, more secure investments. And, they will not yield too much, but are safer.
Long term means at least 10 years. If you only have a few years before college, your money belongs in the bank where you know you can get at it when you need it.
Since you know when you’ll need it, I’d suggest either a CD timed to mature when your tuition bills come due, or else a high interest online savings account. Both are widely available online, but I’ve personally had good experience at HSBC Direct for online savings, and ING Direct for savings and CDs. Another possibility is money market mutual funds, such as the ones available from Vanguard, which act a lot like a savings account.