Should You Invest If You're Only a Teen?

You are a teenager and you heard that if you invest money, you could make more money. Other than that, you don't really know how investing works. You work part time and make a small amount of money each week. You'd love to invest if it could make you more money, but you don't really know how it works.
Not sure if you should be investing your money at such a young age? To be honest, if you don't know anything about investing, it doesn't matter how old you are, you shouldn't be investing.
Don't start investing until you learn whatever you can about it. If you don't know what you are doing, you could lose a lot of money. Read as much as you can about investing and different types of investments as you can.
When you know all you can about investing, you will find out that you need to have money to invest before you can actually start investing. As a teen, you probably don't make much money to begin with and feel you have more important things to spend money on.
Don't invest if you are just looking for an extra income source. Investing should be long term and should not be used for this purpose. If you keep withdrawing the money, you'll never make any.
Are you truly interested in building wealth and investing? Spend some time learning and get involved with a free stock market simulation game while you save up money to invest.
When you finally are able to save up at least a few hundred dollars or more and are ready to start investing, set up a brokerage account, and start investing. Make sure you have done all your research first.
If you have trouble getting an account because you're too young, ask your parents to help you out. They should be able to set up one in there name as a custodian that you can take over when you're old enough.
Article Source: Samantha Asher