Moved over the $1000 in my Fidelity professionally managed Roth IRA account into a individual Roth IRA account at Fidelity. I want to take more initiative in where my money is being invested and I'm interested in what are some good options to invest your first $1K into?
The main 5 I'm considering are VTI, VOO, QQQM, FBTC, and VXUS.
I am making weekly contributions of $150 and this is my first year with a Roth IRA at 22. Any books or extra knowledge about this subject is also appreciated!
First $1,000 into individual Roth IRA Fidelity
byu/Enough-Judgment6671 ininvesting
Posted by Enough-Judgment6671
2 Comments
VTI/VXUS will cover the entire market, anything else is a factor tilt. Which is fine if you have some particular knowledge or conviction, but otherwise I would stick with the broad market.
As far as reading, I liked “The simple path to wealth” by JL Collin’s. There was an audio book available too, it’s a good listen for background noise.
I’m envious. Started a Roth at 22 a decade ago and haven’t contributed since… don’t be like me. Don’t learn about options trading and think you’re pretty smart. I very quickly made a bunch of money and lost slightly more than I put in. I really wanted to learn the ins and outs of trading so I didn’t stop, but became more cautious. Don’t trade, invest.
The simple answer is to choose 1-3 etfs. They’re all remarkably similar but of your list I’d say VTI.
The actual wealth answer is to throw seven thousand dollars a year into that account. Do that at your age and you can level up.