6

At your age there are a number of things you can do to build wealth, but not all are traditional investing. One thing you should think about is investing in yourself - by which I mean doing things to increase your long term earning power. Maybe you should start saving for college, if that's something you might do and if you don't live in a country with free ...


2

What form does this US company need to fill out for taxes? Nothing. You may need to provide to the company a form called W8-BEN to certify your foreign status. Can I pay for taxes in Colombia and not pay in the US? (I've been told that all I need is to show that I've paid them in my country) You don't need to show anything to anyone. You only pay ...


2

Something that people have not mentioned is getting a Roth IRA. Since you are so young and made so little, the government won't take you on your income. By putting it into a Roth IRA, you can guarantee that this income will be untaxed for life. Combine the Roth IRA with the other ideas mentioned here to figure something good out for the long term.


2

start investing and making smart things with my money; so one day those $1200 will have turned in to a much bigger capital. Compound growth is your friend! I'd put the money in a low-cost mutual fund (most likely one tracking the S&P500) at either Fidelity (fund name FXAIX) or Charles Schwab (SCHG). Both are online brokerages. Once you have a job and ...


1

When you notice you are riding a dead horse, get off. When the business model of a company isn't lucrative anymore because market conditions have changed in a way that its goods or services are no longer required, then it is time to either liquidate the business or shelf it and start a new one which fits more into the current economic climate.


1

Since you have no debt or living costs, investing in the stock market might be a good idea, especially if you hold on to the stock(s) for a long time (since investing in stocks is high risk, but this risk is minimised over long time periods. The dividends from stocks are usually a lot higher than interest on savings accounts that banks offer.


1

Yes, almost certainly. Probably as easy as asking your broker.There are some complications in owning foreign stocks in a foreign currency. Currency conversion costs (and risks) are one, and there may be withholding tax on dividends or other costs/complications in getting money out. Since your country Colombia has no tax treaty with the U.S., I believe your ...


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