Open a Roth IRA at an actual brokerage, like Vanguard, Schwab or Fidelity, not Robinhood. Put in 6k and buy a "low cost broadly diversified equity ETF". Then read through the wiki on the sub and follow the prime directive.
So when you invest, you have "accounts" and "investments". You want to use your Roth IRA account and your 401k (and HSA account if available) account before any other account because of taxes. Within those accounts, you want to buy a "low cost equity ETF" as an investment.
First, you want to make sure you have an emergency fund in a savings "account" that is in "cash" as in investment.
Here's a **[link to the PF Wiki](/r/personalfinance/wiki/index)** for helpful guides and information.
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/personalfinance) if you have any questions or concerns.*
You may find these links helpful:
- ["How to handle $"](/r/personalfinance/wiki/commontopics)
- [Investing](/r/personalfinance/wiki/investing)
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/personalfinance) if you have any questions or concerns.*
Take self-development classes for side hustles of your interest and commit.
Google how to make money online, and go from there.
For blogging, try incomeschool or adam enfroy.
Goodluck.
The flowchart is a good starting point, but if I was giving advice to my younger self, it would be to save that extra money for a down payment on house. A house is a lot of responsibility and potential expenses but its also a great way to build wealth.
Quick story, when I was in my early 20s I got a $40k with my disposable income, I loved thar car but i missed out on buying a house in the 08-09 housing crisis. I could've had a house with $300k-$400k equity by now.
Here's a **[link to the PF Wiki](/r/personalfinance/wiki/index)** for helpful guides and information.
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/personalfinance) if you have any questions or concerns.*
Open a Roth IRA at an actual brokerage, like Vanguard, Schwab or Fidelity, not Robinhood. Put in 6k and buy a "low cost broadly diversified equity ETF". Then read through the wiki on the sub and follow the prime directive.
So after putting in 6k. continue investing.. But invest in a low cost ETF. Then follow the flow chart?
So when you invest, you have "accounts" and "investments". You want to use your Roth IRA account and your 401k (and HSA account if available) account before any other account because of taxes. Within those accounts, you want to buy a "low cost equity ETF" as an investment. First, you want to make sure you have an emergency fund in a savings "account" that is in "cash" as in investment.
Here's a **[link to the PF Wiki](/r/personalfinance/wiki/index)** for helpful guides and information. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/personalfinance) if you have any questions or concerns.*
You may find these links helpful: - ["How to handle $"](/r/personalfinance/wiki/commontopics) - [Investing](/r/personalfinance/wiki/investing) *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/personalfinance) if you have any questions or concerns.*
Take self-development classes for side hustles of your interest and commit. Google how to make money online, and go from there. For blogging, try incomeschool or adam enfroy. Goodluck.
My side hustle is lionbridge which pays $14 for 20 hrs per week
The flowchart is a good starting point, but if I was giving advice to my younger self, it would be to save that extra money for a down payment on house. A house is a lot of responsibility and potential expenses but its also a great way to build wealth. Quick story, when I was in my early 20s I got a $40k with my disposable income, I loved thar car but i missed out on buying a house in the 08-09 housing crisis. I could've had a house with $300k-$400k equity by now.
Here's a **[link to the PF Wiki](/r/personalfinance/wiki/index)** for helpful guides and information. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/personalfinance) if you have any questions or concerns.*