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re: Rookie investing $1K in the stock market...need your help
Posted on 1/13/15 at 12:09 pm to Crescent Connection
Posted on 1/13/15 at 12:09 pm to Crescent Connection
Fund your Roth IRA while you can. Invest in vanguard target 2060. This is the simple "boring" advice.
$1000 isn't really worth buying multiple companies as the fees will set you pretty far back. Say you bought stock in 4 companies at about $250 each, your already 4% in the hole with a $10 commission, plus another 4% when you sell. So, to me, it doesn't make sense.
If you not looking to simply throw it at a target fund, I'd put it all in one company, then save up another thousand and put that in another company. Repeat. You can be reading up on your next buy while your saving. Just my 2 cents.
eta: guess I missed the part about you already funding your roth. Ignore the first sentence then.
$1000 isn't really worth buying multiple companies as the fees will set you pretty far back. Say you bought stock in 4 companies at about $250 each, your already 4% in the hole with a $10 commission, plus another 4% when you sell. So, to me, it doesn't make sense.
If you not looking to simply throw it at a target fund, I'd put it all in one company, then save up another thousand and put that in another company. Repeat. You can be reading up on your next buy while your saving. Just my 2 cents.
eta: guess I missed the part about you already funding your roth. Ignore the first sentence then.
This post was edited on 1/13/15 at 12:10 pm
2
Posted on 1/13/15 at 12:39 pm to TigerDeBaiter
Thanks for the advice.
Posted on 1/13/15 at 3:02 pm to TigerDeBaiter
quote:
$1000 isn't really worth buying multiple companies as the fees will set you pretty far back. Say you bought stock in 4 companies at about $250 each, your already 4% in the hole with a $10 commission, plus another 4% when you sell. So, to me, it doesn't make sense.
look into the robinhood app. no fees
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