What is the best way to invest my money at 16 years old?(*long term goal)
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The best way is alway the way that suit your risk profile and within the ability to atleast understand the risk factors. If it is for long term goal, write down the time horizon and set realistic goals. Then move on to allocating into assets according to your risk profile and your comfort zone. Just start from your comfort zone, slowly learn more and more step by step. Do not blindly following the hype to chase after returns. If you can't hold or unable to stop lose, you might end up suffering more than just financial loses.
I lost my first thousands going all in China stocks listed in Singapore. While losing is bad, I become more careful in any investment preparing to lose them. If I can choose again though, I would just DCA into stocks and focus my life on other meaningful things.
Ask your parents help you invest in T-bills, at least you can grow your money for a few more years before you open a broker account.
Not recommended to invest in speculative instruments at adolescence stage. Whether earn or lose money, you will be affected psychologically. Your studies will then be disturbed as a result.
At a young age, accumulate your "bullets" in non-speculative instruments like fixed deposit whereby the returns are made known upfront; while investing your spare time to read up on resources related to financial planning, available investment vehicles (e.g. types, risks).
16 years old is a very young age!
Good to start as young as possible.
However, with your...
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