Best method to save money to invest in real estate later on

[Michael Kantar]

Hi my name is Michael and I'm 16 years old and am currently looking to build some capital (20k+) to invest later on in real estate. I'm not sure if I should invest in something else in the meantime and hold it (stocks, cryptocurrencies, mutual funds, flipping items for profit, etc.), just save money (savings account, Roth/Traditional IRA, etc.), or just do a mixture of both.

I am currently working as a lifeguard over the summer and am making a decent amount of money which I hope could help with allocating my money in different areas. I am really just looking for the best way for me to build money and find some ways for long term growth (>10 years) and some to take out when I’d like to invest shorter term(~5 years). All suggestions are welcome as I am looking for a way to save some money as well as have some diversified investments.

I am also working on building a credit history by having my first credit card set up as an authorized user on my parents credit card account. If there’s ant other suggestions you guys have for credit building at my age as well please let me know!

If there’s anything you need for me to clear up as well let me know and I will try and clarify by editing/updating this post if it’s possible. Anyways, I would like to thank everyone in advance for the help!

[Jessica G.]

@Michael Kantar I'll let others recommend specific vehicles for storing your cash, but I just want to tell you what I wish someone would have told me at 16. Income and lifestyle will put you so far ahead of your peers you will be killing it later on! Make as much money as you can and keep your lifestyle as low as possible. Let your friends buy the brand new cars, cool clothes, and go out all the time. You live like you are broke and stash cash and you will be wealthy before you know it! Awesome that you are already thinking about this!