Comments on: ASK GFC 033: How to Invest for College Students

By: Jesseicka Brown

Jesseicka Brown — Mon, 04 Feb 2019 16:10:36 +0000

Hey, Mr. Rose.

I am wondering, you mentioned investing with a manager is the way to go, does that still apply if u want to invest in the Roth IRA? Since you said the Roth IRA is the best investment for college students, which I am, should I just invest in that or through the robo-advisor?

Thank you,

Wanna-Be- Rich College Girl

By: Maria-Luiza Popescu

Maria-Luiza Popescu — Tue, 01 Jan 2019 22:00:22 +0000

If you happen to be in possession of collectibles with value for a certain cultural movement or zeitgeist that are still relevant and have continuity (even the more valuable with original packaging and documentation), you are already sitting on an untraditional investment that could be worth even hundreds of thousands. Toy collectibles like Transformers, Barbies and rare accessories, GI Joe’s hold the biggest value ascribed to scarcity and condition, and several toy parts are going on the market for thousands if not over 10K each. It is a nontraditional class, certainly, but one that can hold immense value with time based on the factors cited above, not unlike rare artifacts, paintings, memorabilia, classic cars.

Another way is to lend your technical expertise to market research, and invest the earnings. A lot of platforms offer flexible, fun, lucrative projects for $150-300/hour (especially for postgraduate individuals, who are recruited in harder to fill quotes) and can be done online. Forget the overcited survey sites offering low incentives for a lot of work; seek the established firms paying for technical expertise, particularly data science UX. Any doctoral student has experience with that, regardless of field, and those projects pay the most.

By: Jeff Rose

Jeff Rose — Sun, 25 Nov 2018 15:40:12 +0000

In reply to Orode. Hi Orode - The only possibility may be going for citizenship once you graduate. Though some companies will accept US residents with a green card. You can work it out, but you'll have to be patient.

By: Orode

Orode — Sat, 10 Nov 2018 18:16:23 +0000

In reply to Jeff Rose. Hi Jeff, I have the same issue with Oma. I am a Nigerian citizen studying in the US at the moment and I have tried signing up to a few of these investment platforms and they only cater to american citizens or permanent residents. Are there ways to work around this? it's kind of strange studying and working part-time in the US but being unable to invest here. Thank you.

By: Jeff Rose

Jeff Rose — Wed, 31 Oct 2018 23:39:14 +0000

In reply to Ken Mathews. Hi Ken - Roth IRA contributions are not tax deductible when made (traditional IRA contributions generally are). The investment income in the Roth IRA is tax deferred (you'll pay tax on it if you withdraw it early). But if yo hold it until age 59.5 it can be taken tax-free.

By: Ken Mathews

Ken Mathews — Wed, 31 Oct 2018 16:46:49 +0000

On your second bullet point under the Roth IRA paragraph at the end of the article, you state that a Roth IRA accumulates on a tax-deferred basis. I thought the traditional IRA accumulates on a tax-deferred basis, and the Roth is taxed now? If you could clarify for me, I would really appreciate it. Thanks

By: Jeff Rose

Jeff Rose — Thu, 21 Jun 2018 19:01:09 +0000

In reply to Oma. Hi Oma - Since I'm US based I cover only investment platforms in the US. Please check the web to see if there are any available in Nigeria. I don't have that information, nor do I have it for other countries.

By: Oma

Oma — Tue, 05 Jun 2018 22:46:23 +0000

This article is really helpful to me. It has actually answered most of my questions, but I’m a Nigerian citizen don’t know where to invest in,cos most of the platforms are for U.S citizens.pls I would like to know where I can invest as a Nigerian.Betterment and wealthfront are for d U. S