Damn I really hate it how short sighted people are. I'm in high school now and I see people blowing money on really stupid stuff. You know what I mean. iTunes, candy, etc. That stuff is all temporary. You need to put your money into something that will last. Or even better, grow. Because in 10 years you're going to be wanting to buy a house or a car and you're not going to have the money to do it. But you might be able to if you prudently save your money and put it into the best no load funds.
Why? Some of my friends have no idea what mutual funds are. I explain it to them. And then the next time I bring it up they have completely forgotten what they are. So I'm going to write it down so you people remember. A mutual fund is composed of stocks. There can be hundreds of stocks in each mutual fund.
Why would you want to do that? So you get financial diversity. Imagine if you had invested in General Motors a couple of years ago thinking it was a good stock to buy. Well your portfolio would be worthless today. Some mutual funds invested in GM as well. But they're still doing well because GM was one of hundreds of stocks they held.
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