hi, i have this monthly income of about 1 thousand dollars just through nothing (not to mention my job soon), and i don't have anywhere to put it, i'm kinda saving, but not really, if i was to have about 5-10 thousand dollars, what are some things i can do with it? like a trust fund maybe? this guy did something with a trust fund of 2k, and by the time he was 18, he had 20k.any suggestions?don't say "save"im already saving, i need some business/investment IDEASthank you very much.p.s. no scams. im sick of scams, and they will be reported.

Read these books:"Personal Finance For Dummies""Investing For Dummies"They will give you the basic knowledge to manage money.

Go to Vanguard.comUse their fund # 40, the S & P 500 Index Fund.....It has made me several hundred thousand dollars over the years.Trust funds are not investments. I was a Senior Vice President & Trust Officer for 30 years so I know. Remember, there is no such thing as a free lunch so be careful.Regards,Bob

I've never done trust funds. I've just done stocks, mutual funds, and similar investments. $1k per month is plenty to get started. Just get an online broker. Since you're under 18, you might need your parents to cosign or something.

First, I think that it's great that you're thinking ahead. I know many adults who don't care about this and they frequently end up financially struggling. I think that you might be a little confused about trust funds. A trust fund is when property or investments are held by a person (the "trustee") on behalf of another person (the "beneficiary"). If your friend had a trust fund, it's probably because someone else set it up for him and he was the beneficiary of it. Unless you have wealthy relatives who want to give you money, this is not an option for you.On good possibility is stock mutual funds if you don't plan to touch the money for many years. The stock market has traditionally gone up an average of 11% per year over the long term, so it is the best way to grow money without taking extreme risk. If you will need the money in a couple of years, then you may want to look at short term bonds or CDs. You may not earn as much, but it will prevent you from having to sell at a loss if the markets go down in the short term.Talk to your parents about ideas as well. I got started in investing when my parents introduced me to their financial advisor. You can also find some good beginners books on investing at a bookstore. There's nothing like knowledge to help you be a successful investor.If you're under 18, you'll probably need an adult to be on the account with you. There may be a problem with a minor signing an account agreement.Good luck!