Hi, I'm 14 years old with no clue where to start investing. I have around $2,300 right now. I have my money in what I assume is a parent-owned account in Fidelity or something like that. Where do i start?
Also, i have a financial advisor in fidelity if that matters
Posted by JKTHENOOB
6 Comments
QQQM.
Kinda sad really and an indictment on America
The easy answer is buy a total market fund. You’re buying everything which won’t get you rich fast will with time make your investment grow. And you have the power of time on your side. Head to r/personalfinance and read the wiki
You’re 14, you don’t need a “financial advisor.” They’ll just skim fees off money you could compound for yourself. Tell your parents to make sure you’re not paying anyone for advice or management.
With $2,300, the right move is simple: ETF and chill. That means buying a broad market index fund (like an S&P 500 ETF) and just letting it sit. Don’t trade, don’t chase stocks, don’t over think and don’t panic sell in a downturn. If anything keep buying in more because it WILL recover. Add money whenever you can and let compounding do the heavy lifting.
At your age the single most important edge you have is time. Keep it low cost, automated, and boring. You can thank me in 20 years.
Stockpile is a pretty cool app for kids to invest. Just invest in tech or companies that you understand. If you’re on Reddit a lot invest in RDDT, if you use an iPhone invest in Apple.
If you don’t want to just jump in on the advice of some internet rando you have a lot of time to learn through reading. Once you get enough of the jargon figured out things will start to make more sense. Read up on the pros/cons of stocks vs bonds vs mutual funds vs etfs, etc. Then read up on strategies that use those things in different combinations depending on your stage in life and investment goals.