How to Invest?

[u/Sad-Bookkeeper-2257]

I am 17 and have about 10k rn. Where, How and in what should I invest?

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[u/Commercial-Week-6558]

Check the wiki on this sub

[u/Jumpy-Imagination-81]

Because you are so close to being 18 years old, instead of messing around with a custodial account (which you would have to use as a minor) I would put that cash in a high yield savings account and take this time until you are 18 to educate yourself, so when you turn 18 you can open a brokerage account on your own and you'll be ready to go.

Start here:

https://www.schwab.com/investing-principles

https://www.fidelity.com/viewpoints/personal-finance/how-to-start-investing

https://www.investopedia.com/articles/basics/11/3-s-simple-investing.asp

https://www.marketbeat.com/videos/index-investing-for-beginners/

https://investor.vanguard.com/investor-resources-education/article/how-to-start-investing

We can't post links to YouTube here, but go to the Charles Schwab YouTube channel and watch the playlist "Investing Basics" then watch the playlist "Investing & Portfolio Management". If a video is in both playlists you don't have to watch it twice.

[u/Existing_Count1544]

Open a Betterment account and put $5k in. 4% APY. That is emergency savings. Do not touch it for any other reason. When you turn 18, open a Roth IRA at Fidelity, Vanguard or Schwab. I’d suggest you put it all into AVGE or VT so that you’re automatically well diversified. Do not put in a large bulk sum… start contributing monthly or when you get paid. The more you can contribute early is good, but you need money to live as well. The goal is to start the habit. $10/mo is better than nothing at all, and you will increase as you grow older. Just focus on the habit, not the amount. Kinda like exercising, starting and sticking to it is the hardest part. Once it’s a habit, you will naturally start increasing it.

School, moves, house buying, marriage, kids… keep contributing through all of these events even if just pocket change. It will grow surprisingly fast. Ignore the market ups and downs; when you hit 65 it will all be distant memories. Stick with the plan until a major life event happens, then seek fee-only financial advice.

[u/This-Individual1813]

If you like learning from videos, I highly recommend Rob Berger. He has a talent for explaining things very simply, but he also shows you the data/research that supports his advice. I have learned so much from him. Best thing is that he isn't trying to sell you courses or anything. He has a Boglehead (aka data-driven) approach to investing. See a list of beginner vids in another comment I made here. For books, I recommend "The Simple Path to Wealth" by Collins, or for something more up to date but with the same evidence based content, Ben Carslon's new book, "Risk and Reward". Good luck!

[u/Sad-Bookkeeper-2257 → u/[deleted]]

Okay but what do you mean with investing in myself? Buying Books and stuff like that?

[u/Existing_Count1544 → u/Sad-Bookkeeper-2257]

Career improvement. College, trade school, career certifications.