Help me invest my first 10k
Hi all,
I am a sophomore and have decided it is time to start investing. I have around 10k in savings sitting in the bank doing nothing and it is time to put them to work. I don't believe that I could beat the market so I am thinking of investing in ETFs. Also, I will be in IB next summer so I would like to avoid hassles. At the moment, I am thinking of putting everything in SP500 ETF, but I am not sure this is a good strategy. I would stay away from bonds since I am young.
I know I am young and inexpert so I am looking for any advice.
Thanks for your help and ready to give SB!!
Congrats on your first steps to investing on your own. In general, index funds, especially S&P500 ETFs sound like a good way to start if that is what you want. Good luck
Interested
Open up a Roth IRA with fidelity (or any brokerage), put in 6000 for contributions towards the year 2020. Then put in 4000 towards year 2021. Buy 26 shares of voo. Don’t look at it again until your next contribution.
note: May 16 is the last day you can contribute to a Roth IRA for 2020 so get it done asap
I am not in the US, so I don't think it applies.
Sounds good, do you think that putting everything in ETF is a fine choice then?
Unfortunately it doesn’t apply sorry. With 10k I wouldn’t get really fancy with it. An etf like voo or vti would be great, imo. It’s what I do with my own money
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