21 year old investor

[bezzy]

Hey everyone,

I am 21 years old and have a goal of purchasing a house when I am out of school. I was involved in a terrible car accident and recently received a small portion of what I am owed. I have put away enough money for another 4 years of school as well as invested 17k into my family farm. I have also invested 8k into mutual funds. Even tho I have no need for debt, I took out a loan on my car to help build credit. Let me make this clear that I am financially secure and am receiving more insurance money as time goes on. My investment in the family farm will also yield big returns within the next year. Basically I have 25k that I want to invest into something with the short term goal of wanting to use the money to buy a house within 4-5 years. I also just want this money out of my hands so I am not tempted to buy something impractical.

I'll be the first to admit that I'm completely new to investing and don't have a very good idea on how to make my money work for me. Any insights or advice would be greatly appreciated.

Thanks in advance.

[Jerry91]

Unless you have a stable job and an employment history for 2 years, the lender will not consider your request for a home loan. As you do not have much idea about investments, it will be better if you could contact a financial adviser and take his help in investing the money.

[bjl584]

If you know that you will need the money in the next couple years, then you need to put it someplace safe. a savings account, a CD, or a MM account. Returns are dismal, but that's just the price of safety in the current environment.