I’m a 17 y/o poly student. I have currently 12k in savings after working part-time. I was wondering on what are some available options to invest at my age?

Hi anon,

If $12K savings is all you have, then it would be better to start by ensuring that you keep a rainy day fund for yourself. This should be at least 3-6 months of your expenses at this stage, and will increase as you go through the different life stages (getting married, starting a family, etc)

Any amount that is not part of this rainy day fund can then be earmarked for investment. By earmark, I mean that you will have to spend some time to understand your options and the pros and cons of each asset class. You are still young, so there is still time to pick up knowledge. There are plenty of asset classes out there and hence you can benefit from a bit of reading to know more.

Once you feel ready to start, start small and cautiously. It's always better to protect your downside than to chase the upside.

Hey Anon, you're really young! I'd probably use that money and invest in myself.

Pick up as much knowledge now before deciding to enter the markets.

You're not 18 yet so stocks are out of the question because you can't open a brokerage account yet. But if you really want to dip your feet, I'd suggest investing in a globally diversified portfolio of funds through a financial advisor.

But make sure this is not money you need anytime soon and money you can risk losing a portion of. You have to stay invested for at least a decade or so.