I am 18 trying to go to college in hopes of graduating debt free and going to law school afterwards
Jeremy just posted on Instagram about student loan debt. You’ve already doing great even thinking about this stuff at 18. I will leave the investing to others but I can tell you that if you do still want to go to law school after college you need to be super careful picking a school (location/ranking/speciality) and the amount of debt. Law school has exploded in cost in past 20 years and the job market fluctuates from boom to bust. Also, there are all kinds of legal jobs that run the gambit on pay and benefits. Most prospective students think they will make what the top pay at big firms and work there forever which makes the debt look fine. Just be careful and read each school’s ABA Employment statistics for prior graduating classes. They are available on each school’s website usually under careers section so you have to dig. Good luck
Hey @Aicha02!
As @JoemoVB mentioned, it’s awesome that you’re thinking about this stuff. Here’s the instagram post he mentioned that shows the importance of these decisions you’re making right now:
So to answer your question: I wouldn’t invest yet. The BEST thing you can do is focus on getting a great education that will lead to a high-demand career, and staying debt free. If you have extra cash, just pile it up in a savings account. There’s a lot of uncertainty coming up in your life with schools, moving, summer internships, job hunts, etc. If you need the cash you’ll be glad you have it. If you end up 24 years old with a law degree, no debt and a pile of cash. Well, you’re so far ahead of the curve you have millionaire written all over you. That’s not a scenario I’d be worried about optimizing
THAT SAID, yeah, go open a Fidelity account and throw $100 into FZROX or a similar index fund so you get a sense of how investing works and you can watch it grow. That experience will help when you do have a stable income and career and you start investing the big bucks.