What’s up everyone!
I’m in my second year of studying in school right now and saved around $8k, working a research job, and running a small business.
I was thinking of putting a way a bit of money in the S&P 500 (maybe like $100 a month) and up the amount of money once I get my first job out of school. Thoughts?
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Excellent idea. SPY, VOO, it's all really the same as long as it's diversified. I'd personally put this money in a brokerage account over an IRA. You cannot touch the IRA until you're 59.5 without major penalties, and you might need some cash in the next 2-5 years (ponying up first and last months' rent, car down payment, graduation trip etc). Start the IRA when you're working, put this in a brokerage account and plan not to use it but have it as an investing safety net if you need to. But either way, IRA/brokerage, what's more important is starting early like you are.
Use Fidelity, TD, Charles Schwab etc over a Robinhood type account - if you work in finance you'll be forced to liquidate any Robinhood accounts or similar, they have to be at a traditional brokerage.
Diversifying at such a young age is a terrible advice, on the contrary it's best to go all-in tech especially now that stock prices have taken a serious beating
That is so untrue... in 50 years when this guy retires it will matter zip where he bought into the SPY, which is on a 2 year low right now making it a great time to buy. Tech is totally fine if you feel you're a sophisticated investor and want short-term gains in a certain market, this guy wants to throw a small amount in as a first investment and forget about it
“Two year low”?? SPY is like barely off of all time highs
First MD I've seen on this site give actual good non-boomer tier investment advice. TQQQ is unironically his best bet
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