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Originally Posted by omgjacki
I have no plans to do anything right away. I would like to build up some "extra" money so I'm not in the hole if I lose anything and I definitely want to be more knowledgeable, too.
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Start simple, educate yourself about investing in stocks, bonds, and mutual funds by reading some how to information. While your building your knowlegde keep building your savings buy putting it into the highest interest rate savings account or money market account you can find. Then after you get over a certain threshold you can tranfer some of the money into trading account where you can buy stocks, bonds, and mutual funds (compaines such as schwab, tdameritrade, vanguard etc).
Try watching some Nightly Business Report on PBS channel 12. It is straight forward business news that can stoke your curiosity. Then chase information from there. Or get the NYTimes free app on your phone and browse through the business section. I feel that having knowledge will lead you into better understanding what to do with your money.
Telling you now to buy a certain stock or mutual funds feels like someone telling a person that does not know how to change a tire that the nut needs to be torqued to 75lbs when they are putting it back on the car.
I am not suggeting that your dumb. I just fear telling you to open an account with tdameritrade, buy stock in company XYZ, then possibily loosing money will turn you away from becoming knowledgable about what to do with your savings.