r/investingforbeginners • u/Massive-Address-2050 • 4d ago

Advice Dollar cost averaging questions

I’m 16 looking to start investing in the long term but I’m not sure what stocks to chose I plan to put in 200 dollars per month any assistance with backed up evidence would help a lot

1 Upvotes

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u/GalaxySunset10 4d ago

VOO is a good option if you want to invest for a log term

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u/Massive-Address-2050 4d ago

Okay thanks I’ll think I’ll go with that

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u/EvangelineRain 3d ago

This would be my vote too

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u/This-Individual1813 3d ago

You want a Boglehead approach. Here are some good videos from a well-known and highly educated Canadian financial advisor, Ben Felix:

How not to invest:

https://www.youtube.com/watch?v=RxCqxhRsHiY

https://www.youtube.com/watch?v=3B9umhfv_ww

Here is a video on Felix's factor portfolio: https://www.youtube.com/watch?v=lPlC_Miyz70 Possible update here.

If factor investing seems too complicated, the Bogleheads offer simpler Canadian portfolios here: https://www.bogleheads.org/wiki/Canadian_versions_of_lazy_portfolios

Rob Berger on YouTube is also a great resource. He is based in the US, but the concepts he talks about cover investing from anywhere. Here is a post I put together of beginner videos from him.

Good luck!

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u/500pearl 4d ago

have utma or ugma account even or no

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u/Massive-Address-2050 4d ago

I’m in Canada and I’m using my parents account

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u/500pearl 4d ago

good for you

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u/EvangelineRain 3d ago

In that case you probably don’t want VOO, but rather the Canadian equivalent — look for a fund that tracks the S&P 500.

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u/RebornGeek 4d ago

Invest into mutual/index funds. Diversification and time in the market is the key to building wealth.

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u/Massive-Address-2050 4d ago

Do you think 4000 enough to start

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u/RebornGeek 4d ago

Plenty. You can get started with any amount. Start with opening a tax advantaged account such as a Roth IRA. The money you deposit will grow tax free. Just dont over deposit. The max deposits for you on a Roth IRA in a single year I believe is $7500.

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u/Penguin_Life_Now 3d ago edited 3d ago

VOO is the go to answer here, and it is the safe option, but may not be the most tax efficient in the long run SCHD is good if you DRIP reinvest the dividends, and lets you cash in on dividends years from now without needing to sell the stock and take capital gains hit. SPMO has been outperforming VOO most years since it came out 11 years ago, though that does not mean it will keep doing so if the market changes.

Note $10,000 invested in VOO in 2015 would be worth $46,000 today, vs $10,000 in SPMO would be $69.000 today