I'd love to hear some advice about investing.
I've been doing a little bit of research about options and also learning about investing and financial choices through a personal finance course. Here's my situation: I'm 16, and I've managed to put a decent chunk of change (for me, at least) in the bank over the last two years. It's not much, I'll just say around 7k, but looking ahead, every bit of it is going to be sucked up in the near future unless I do something about it. I'm going to be paying for a car, insurance, and gas money in the next few months. I'm also 100% responsible for funding my college education. That's all coming up fairly quickly, and what I've worked hard to save is going to go down the toilet in the next year or so. Typically, the advice I've seen is to pay for your college education before starting any kind of investments. However, my thinking is that once I graduate college, I'll likely have some form of debt and a life to pay for - life out of college isn't necessarily financially easy. I won't have money sitting in the bank then like I do now, and I don't want to have to borrow money to invest.
So, my thinking is it would be advantageous to start something right now while I can still make the investment. It would be a small amount, sure, but it would be a snowball type of mentality. I'm thinking about investing a small sum, say $1,000, into something that (1) prioritizes diversification, (2) is a low risk, long-term type of deal, and (3) something that I'll be adding to for decades to come. This is not something I'm thinking about as a get-rich-quick strategy. I'm seeing it as an investment in my future.
Am I a complete idiot for wanting to do this at 16? Is that even a workable plan? Will investing companies laugh at a thousand dollar deposit? What advice from your personal experience would you have for me as far as going down this route? I know next to nothing about where I would go to invest this or what all my options are. The last thing I want to do is waste my money. I've talked to my parents about this, but they've had bad experiences with investing in the past and could give me very little guidance.
I appreciate any help y'all can give me.