Is It Wise To Invest $250/month Thru An Online Brokerage Account (stocks/etf’s) Or Invest In Something Else?
I want to get in the game and continue getting my feet wet through investing in stocks and ETFs, but at my age (25), it’s tough to balance saving and investing through the relatively little amount of money I have compared to others. Does anyone have insight as to what people in their mid-20′s should focus more on with their finances? Also, are there any other investment vehicles that I could be utilizing better based on the amount of money I put in each month. I just want to be assured that I am getting the most bang for my hard working buck.
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At 25 I was saving into endowment type investments, stock based as I had the time to ride out the ups and downs. I think that this would still be true for you.
You should talk to a financial advisor and get them to recommend a good mutual fund that accepts regular payments.
If you have debt though you may be better off paying that down to zero first as that is a tax free guaranteed return of whatever the interest rate is. Once that is paid off you’ll have more money to invest and your savings will grow much faster.
Everyone needs a buffer of 3-6 months of living expenses in an easy access (no more than 30 days) account as a security bucket that provides peace of mind. Get that built up first and then start to invest.
Look into investing in a Roth IRA, better than stocks.
Yes.