I currently have about 1,000 dollars right now and was wondering what I should invest in. I don’t want to invest all 1,000 because that’s all I have right now. I’m asking for advice on what should I invest in, how much should I invest in, and if I should invest it into crypto like bitcoin. I’m not looking for fast making money, but something long term that can accumulate over time. That I can constantly add money into with having setbacks.
I’m 18 and have about $1,000 right now and am looking to invest.
byu/Admirable_Aerie1262 ininvesting
Posted by Admirable_Aerie1262
22 Comments
Do you have a job? Or what is the $1000 from?
VOO. Market always has ups and downs
[https://www.reddit.com/r/investing/wiki/index/gettingstarted/](https://www.reddit.com/r/investing/wiki/index/gettingstarted/)
Voo, spym, schd
Voo. Open a Roth ira and drop it in and forget until your 65
Sls
$1000 in Micron stock will destroy VOO
If this is all you have, setup an emergencyfund and keep wowrking/studying.
XEG
You have the right mindset which is rare at your age. Congratulations, it will serve you well. Index funds like VOO/VTI or VT would be a good choice for your goals (make sure to auto-reinvest the dividends after you buy the stock). You should take a look at r/bogleheads
Put everything you can into the S&P 500 ASAP
“Time in the market beats timing the market”
Congrats on having enough sense to want to grow your money.
That said, just keep your 1K in cash. Step 1 is always to build up an emergency fund. After you have 6 months of bills covered, then you can start investing.
Dude did you just do zero research and come post here ?
Invest in yourself to upskill.
Invest in your education. At your age, that will provide future returns much greater over your life time than that $1k. If your education is taken care of, open an IRA and put it all in Nasdaq fund, ticker NDAQ. I say this over S&P500 because it is tech heavy and tech is going to rule for the next 100 years. Put a little more in every time the market takes a nosedive, which happens fairly often, commonly called ‘buying on the dips’.
Don’t invest this money. Keep it for an emergency. You should invest only when you have more. That’s fine.
Take everyone’s advice; invest and put in a type of SP500 index fund.
But, additionally, add +$100 a month. By 65, you’ll be a millionaire. If you don’t add that $100, you’ll get 100k at best. It’s ONLY $100 a month!
Worry more about increasing your income over time instead of investing $1,000 right now. Just put it in a high-yield savings account for now and focus on your income.
Save 3 months of living expenses. Then put everything into ROTH IRA VOO. Keep it simple so you can spend your efforts/mental energy somewhere else.
QQQM… little horsepower because you don’t need to be extra conservative with something like the S&P because time is on your side and you don’t know enough yet to pick individual stocks
Hey man. At 10% a year that 1,000 could be closer to 45,000 if you have the discipline to not touch it for 40 years.
VTI/VOO
If you’re expecting to continue earning at this age, then buying into an index fund (VOO, VTI, etc.) is a good idea so you can dollar-cost average into it over time.
If you just want a place to park cash where you’ll need to access it until you start earning more consistently, I’d personally go for the high-yield savings (Wealthfront offers a pretty good rate) or a money market fund.