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Originally Posted by Blasphemy.
... If you were in my position, and were willing to invest at least $100 a week into something, what would you put it in?
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I
was in your shoes, and I invested all of my money in beer and women. So far, the stock has not paid off yet.
Seriously though, depending on where you live, I would recommend that you put half your money into t-bills that mature on regular intervals. Take the other half and invest in some high-risk stuff. People call this the 'Magic Bean Method' because of the story of Jack and the Beanstalk, but at your age, you can afford to be risky; very risky. It is also alot of fun...
You are 18, and with the amount of time you have before retirement it is more important to teach you strong saving habits than it is to secure a steady retirement income.
I know, next month, take your hundred bucks and go to the local bookstore. Buy 5 20$ books on investing (investing for dummies, Investing ABC's) and read them. The wealthy Barber, the Richest man in Babylon, 7 habits of highly effective people, et cetera.
You want to be able to access your money without too much penalty, since this is more about saving than it is about retirement planning. A savings account is good, but something that keeps pace with inflation and then some is really good.