Hi, I’m a (28m) that’s just hit my 10k goal that took about a year in a half, iv never invested before and don’t know what to do, I would like some serious advise on how I should invest this. Also I allocate at least +$500 or more every other paycheck to my savings and want to continue to incorporate this into investing. Long term goal is around 50-75k for a down payment on a house! Any suggestions or advice as I am new to this
Just saved my first 10k and want to invest
byu/VEXOPS ininvesting
Posted by VEXOPS
5 Comments
Congrats on hitting your 10k! For a first-time investor, you could start simple: low-cost index ETFs or a high-yield savings account for short-term goals like your house down payment. Keep adding regularly, don’t stress timing the market, and focus on steady growth until you reach that 50–75k.
If your goal is to save for a down payment, I would invest in stocks as you can lose part or all of your original investment. I would recommend a bond fund like SGOV which is lower risk and similar to a high yield savings account at 4.3% apy
The same answer is the every time it is asked multiple times daily. Buy an index fund like VTI and chill. If you want to use the money in the mid-term future, go for a HYSA.
feel free to read sub resources.
it answers beginner questions like this.
If your goal is a house & you live in Canada, open up an FHSA and try to max it out each year. It’s tax deductible – essentially free money.