I turn 18 in January and I don’t really know much about investing, so that’s why I’m here
I know that investing isn’t the truly fastest way to make money, but I don’t really wanna risk all my money on get rich quick (like day trading, that’s too risky for me). I plan on starting an account on MooMoo because I heard that’s a solid place to begin but I don’t understand the market and I’m here for that reason
What would you guys say would be the safest place to keep my money when it comes to investing?
I am turning 18 in January and I wanna start investing early
byu/Immediate_Kick_6167 ininvesting
Posted by Immediate_Kick_6167
5 Comments
80% VOO 20% SCHG or 100% VOO
Simply invest in the S&P 500 index fund.
Consistently deposit into it and don’t worry about the ups and downs (volatility), it’s all part of the ride 💸
Nice decision there was no body at my 18 to guide about investment and education.
100% VOO. Put as much as you can away now. Thank us later.
Before investing in the stock market, build up an emergency fund that covers a minimum of 90 days of every expense you have. Investing comes afterwards. There’s no point in investing if every time you have an unexpected expense or an emergency you have to turn around and sell stock. You don’t want to put emergencies on credit or have to sell stock every time something comes up.
Also, learn what Dollar Cost Averaging is and use the idea.