Build wealth in college?
Alex asks about building wealth while he's still in college. Dave says Alex's best investment right now is in himself and his education.
QUESTION: Alex has saved a lot of money while in school, and he asks Dave about investing. Dave says Alex's best path right now is to invest in himself and his education.
ANSWER: At this stage of the game, you are your best investment. If you continue working, going to school, and piling up cash, you’re going to be able to put that marketing know-how to work in a big way. You’ll be able to use some of the cash you’ve got stored away to set yourself up in your new life once you finish school. What you’re doing right now will give you a better return mathematically than a mutual fund.
An education that is usable is more valuable to you at this stage of the game than investing. Now, when you finish school and start living life in your new career, good growth stock mutual funds are what I’d recommend for retirement.