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Investment plans allow individuals to simply purchase a specific amount of stocks, bonds, or indices on a regular repeating basis, cutting out a large part of the hassle while allowing for some of the main advantages of investment. If you’ve been considering an investment plan but aren’t completely sure what they might entail, the following information might help you to decide whether or not an investment plan is the right investment option for you.

The Mechanics of an Investment Plan

Basically, an investment plan is a method of making multiple investments over time at regular set intervals. The funds for the investment are taken from a cheque, savings, or money market account automatically, and are used to purchase stocks or bonds that you have decided upon beforehand. In most cases you can change the amount, frequency, or purchased stocks or bonds of the automatic investments at any time, though depending upon the broker through whom you’re doing the investments you may be subject to fees or penalties especially if changing details relatively close to the next investment date. Most online investment firms offer investment plans that you can change at any time free of charge.

Deciding How Much to Invest

When deciding how much to invest each cycle with an investment plan, you should take care not to overextend your funds and bring yourself up short. Make sure that the amount that you choose is available and that you’ll have it to spare each time your investment comes up… it can be difficult to plan for events in the future, and just because you have a surplus now doesn’t mean that you won’t find money running tight a few investment cycles from now. If you feel that you’re reaching a point where you won’t be able to afford your regular investment, go ahead and reduce the investment amount or put a hold on the next scheduled investment… better to put less in than short yourself afterwards.

Choosing What to Invest In

Making the decision of which stocks and bonds to invest in can take some time, but it’s worth it… this is your money that you’re dealing with, and you shouldn’t invest it without putting some thought and research into your decisions. Find stocks or bonds that have performed well over time, and that are likely to continue doing so… they may be expensive at times, but you aren’t making your total investment all at once so it doesn’t matter as much. Don’t be afraid to add new stocks or bonds to your plan later, either… this can help to diversify your portfolio.

Congratulations on Starting your Investment Carreer so early.

To Me the Best place to start is a Mutual Fund that mixes an investment of Stocks Bonds and Foreign in a proportion that fits your retirement expectations. (increases Bonds as you grow older) .

It is a ONE STOP shopping so as to speak.
Meanwhile back at the ranch you can be learning about investments so you can make informed decisions later.

If you have no interest in learning you can keep your money in this one fund for the rest of your life and do pretty good..

Vanguard has such a fund and is my choice because it is cheaper than most. I think it is Target maybe 2045. Other good companies like Fidelity and Price Rowe have such funds also just pay attention to fees – you can Google Prospectus these days makes it easier to check.

Also use Tax Protected vehicles where ever possible like IRA’s Roth IRA and 401K

The Diehards suggested approach is

1 401K up to max of company match
2. Roth IRA to Max
3. 401K to match
4 Taxable investments.

also Diehards.org has an excellent sticky on beginning investment plans.

Good Luck and Happy money… Gerry