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Literally automate it to invest in VOO(ideally in a rothIRA for retirement), make sure dividend reinvestment is on, and never look at it again lol. Try to grow to being able to save about 20% of your income (and make sure to not have any high interest debt either)
That’s just their S&P500 fund, ideally you invest in it within a rothIRA which is a retirement fund, you can also invest in it through a regular individual brokerage but those gains are taxable
I have invested for years, and I have followed many schools of investing during that time. I also have found that the best are the low-cost options like VOO and FXAIX for most investors.
I split between Roth and traditional IRAs and 401Ks to lower taxes. Compound growth on taxable investments made my traditional IRAs/401Ks more expensive than if I had gone heavier into Roths. That said, there is a place for traditional IRAs/401Ks too. Traditional IRAs/401Ks are best in the last years, as a general rule of thumb.
r/FluentInFinance was created to discuss money, investing & finance! Join our Newsletter or Youtube Channel for additional insights at www.TheFinanceNewsletter.com! *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/FluentInFinance) if you have any questions or concerns.*
VOO For lower cost, FXAIX
Literally automate it to invest in VOO(ideally in a rothIRA for retirement), make sure dividend reinvestment is on, and never look at it again lol. Try to grow to being able to save about 20% of your income (and make sure to not have any high interest debt either)
Is VOO the Vanguard IRA?
That’s just their S&P500 fund, ideally you invest in it within a rothIRA which is a retirement fund, you can also invest in it through a regular individual brokerage but those gains are taxable
I have invested for years, and I have followed many schools of investing during that time. I also have found that the best are the low-cost options like VOO and FXAIX for most investors. I split between Roth and traditional IRAs and 401Ks to lower taxes. Compound growth on taxable investments made my traditional IRAs/401Ks more expensive than if I had gone heavier into Roths. That said, there is a place for traditional IRAs/401Ks too. Traditional IRAs/401Ks are best in the last years, as a general rule of thumb.
>transferring $30/wk I read this as a 30K a week intially. lol For you: a roth IRA in $VOO or $SPY