I would open a taxable brokerage account if not already there. Setup a monthly transfer and buy every month using automatic investing. I would recommend a total stock market ETF e.g. VTI. I would continue this for the next 10-20 years.
- I put aside 250/mo that stays in my primary banking account – a sort of treat yourself money I set aside to build up for vacations, etc
- Guilt free spending on anything I want: 1,500
- I have 1,000 left over if I stay within that budget I would ideally like to invest all or part of this – just don’t know how to do that – appreciate
advice on this
e.g.
https://www.fidelity.com/trading/recurring-investments
I can't help and notice the two bold lines above. It is personal choice in terms of priority when thinking about Investing vs Spending, Need vs Want. I would say priority wise: Need > Want and Investing > Spending.
Statistics: Posted by babystep — Sun Apr 14, 2024 12:55 am — Replies 10 — Views 783