Im 18 years old, and i was advised to begin saving for retirement, What do you suggest? if yes, How much per month and what type of bank accounts should i save in...

Appreciate any comments,

Something small and manageable to start with, IMO - at that age, you've probably not been hit with so many financial responsibilities, so avoid committing to a plan where constant new investment is required (such as a minimum investment savings plan).

There are a couple of different approaches you could take, but considering your suggested circumstances and lack of experience in investments, some kind of small investment plan you can change the amounts in may work, such as some form of sharebuilder program.

That's merely my first thought for your circumstances - of course, you could make the effort to really research the markets and then employ a serious technical strategy.

Saving fro retirement will resúlt in a financial disaster and is not a smart financial move.

You have to invest for your retirement, not save for it.

Set-up a money market account to start saving for yur investments. Transfer the same amount every month (as much as possible, if you cut back on certain things now you will be able to enjoy that much more in the future) and if possible to an automatic transfer.

While you put money into you MMA you can research what strategy you want to imply. Define your goals, know what you want and then go look for it. You may want/need the assistance of a third-party for that.

It is not smart to play it safe but it is safe to play it smart.

Well, I rather suggest you to save for your investment in this age, not for retirement. 18 is too young to think about retirement I think. I mean there is still almost 40 years left before your retirement.

when you are in your 50s.. my opinion.