Too embarassed to tell anyone I know IRL, but am excited for my new future. Been throwing alot of money with small things. PC, alcohol, movies (and im ashamed to say, funko pops). Recently i took the plunge and cut out alcohol in an attempt to get my life together, and i feel like i have a whole new start.
Congrats.
Once you get to $10k it starts to matter where you put it - for example a managed fund will make it grow significantly faster than if you left it in the bank.
Don’t managed funds have lower growth and significantly higher costs than index funds?
That’s my impression as well. I would recommend making a free account with Schwab or Fidelity and putting your savings in SPY
Yeah I tried one of those a while back and was pretty dissatisfied with it. All it did was lose money each month due to “fees”. Felt like a scam. So I pulled the money out and put it in a high yield savings account instead. I’ve seen a ton of growth with that. Being a moneybro investor absolutely was not for me.