– what ios app is best to use for someone who wants to get into investing?
– what’s the minimum amount to invest into one company?
– when should you take your money out and do you take only a partial amount out or?
any tips for someone who wants to begin investing will be kindly appreciated. thanks
Posted by _dnd4lyfe
5 Comments
Start simple.
Use a beginner-friendly app, invest small (even $10–$100 works), and don’t overthink picking stocks early.
Most people do better focusing on consistency and long-term holds, and taking partial profits instead of trying to time everything.
Swppx or VOO every month $600 from your paycheck. Set it to do it automatically. Don’t look for 30 years. Retire.
I use Schwab and Robin Hood. Despite its hatred on here Robin Hood is incredibly easy to use.
I can’t think of a single broker that doesn’t have an app, so pick one of the big brokers and open an account.
Generally speaking, no one company should be more than 10% of your portfolio. Depending on your goals and risk tolerance, you can adjust that as you see fit.
When to sell depends on why you bought it. You should always think of what your exit plan is before you buy something. If a stock runs hot and grows to 15% of your portfolio, you could trim your position to get back to 10%. If the underlying data has changed, you could sell all of it. It just depends.
> which app?
I like fidelity, has minimal fees and the UI is nice-ish. It’s not flashy, but I don’t need my investing app to be flashy.
> what is the minimum to invest?
As much as you can reasonably afford AFTER saving for retirement, paying your bills, AND funding a 3-6 month emergency fund. DO NOT invest your emergency fund or any cash you may need suddenly.
> when should you take your money out?
20-30 years, retirement, or great financial need. Compounding interest and share price growth is what makes money in the stock market, not quick buys and sells. Have a “Buy and Hold” mentality and your portfolio will outperform many day traders.
> other tips
Don’t take investing advice from social media, friends, or the news. By the time the stock info makes it to this later, the price is already baked in. The time to invest in NVIDIA was 10 years ago when they were struggling to compete with AMD in the GPU market when it was $50 per share.
Day trading will lose you money over time and is essentially gambling. Dont do it.
If you don’t have the willpower, drive, or knowledge base to do a comprehensive review of every company down to their 10k forms and quarterly earnings calls and analyst reports, don’t invest in individual companies.
Your best bet for long term investing is ETFs like VTI, VXUS, and maybe 5-10% bonds if you’re young and have a healthy amount of risk aversion.