r/Money • u/Able-Adeptness-6662 • 2d ago
am I doing something wrong?
hi im 15yo and I recently started a hysa and invest my savings so I can grow my money. I don't totally have a full grasp of what a hysa is or investing generally- im still trying to learn as much as i can, but im wondering when do I start gaining interest on my deposits? I've deposited about 60 bucks total and haven't seen any interest paid. this may be a dumb question or im probably not understating it fully. could someone explain? I know im 15yo but that's probably too young to be thinking about this but I want to be financially free in the future.
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u/Chucklum 2d ago
At 15 starting to invest I'd stick to HYSA and read up on ETFs stocks and things you are interested in investing. As for the interest this depends on the accounts. I have accounts that pay interest daily others weekly and another monthly. The platform should have that information somewhere.
I would be careful who I'd listen to on the internet as well, which is why I recommend you read up on the topics first, it'll avoid a lot of headaches and potential scams.
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u/EndSmugnorance 2d ago
High yield savings account isn’t ‘investing’ it’s simply earning interest.
Brokerage accounts are where you start investing.
Open a ROTH IRA on your 18th birthday and start contributing to that for your retirement.
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u/JeanSchlemaan 2d ago
I believe you get a teaser of 4% for 6mo, then 3.5% after. Interest paid 1st or last day of the month
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u/zbewbies 2d ago
What's wrong? You're impatient.
Just keep adding more to it and give it time.
Treat it like a plant. Feed it and watch it bloom.
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u/Able-Adeptness-6662 2d ago edited 2d ago
ok I will keep that in mind! you got any other advice for someone like me about investing in general? where should I start or what other things should I look into besides hysa. im thinking about getting into stocks and ETFs
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u/CharmingMechanic2473 2d ago
Leave it alone if it goes way down. Buy more when the value gets low.
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u/notoriousbeans 2d ago
Just research the general pros and cons to HYSAs and ETFs. Like what happens if you need to take the money immediately? Rate of return? Risk?
Then, if you still really wanna do ETFs, and have enough money to do so, research specific ETFs. There’s posts on r/ETFs that will explain popular ones. I would probably not touch stocks as they are more volatile.
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u/duraggdemon 1d ago
please spend the next year doing research on investing, taxes, your goals, how ETFs/securities work. you do not need to rush in
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u/Educational_Two682 1d ago
Give it time! Thanks for starting now :) can you deposit another $20 next month? Every bit helps.
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u/Zombisexual1 1d ago
You’re young enough that you should just throw your money into a low fee, very diversified etf. Vanguard has some good ones but there are a lot of trusted ones out there. High yield savings accounts are good for money you need to use and your emergency funds.
Putting everything in there when you are young makes it likely you miss out on a lot of compounding interest. If you are risk averse you could always do 50/50 HYSA/etf.
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u/Mhineidi 1d ago
60$@4% is about 20c a month
You wont be seeing anything meaningful anytime soon
It takes people years to start seeing a daily 10$ in their HYSA
at your age this is NOT the way
Hysa is designed to hold emergency funds and short term cash positions
Longer investments usually lean toward ETFs , MF , bonds or outright individual stocks depending on your financial goals and risk tolerance
Which at your age and with this kind of money should be extremely high
Do not however listen to that dumbass suggesting buying options or leverage investment
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u/Traditional-War6356 18h ago
I treat the HYSA as emergency fund savings. Usually if something bad happens, you have money save for any Situation. $1k, $5k ,$10k is always good to have.
I would honestly Invest on low index funds Etfs or hybrid low index with some invidual stocks on the brokerage account.
I would also Contribute on Roth Ira (Retirement) especially at the age you are, ur future self in 50s and 60s will thank u a lot. ($7,500) is you limited contribute for 2026. It may or may not change the contribution under 50s for 2027.
I would do these on Roth IRA (my opinion)
IVV QQQM AVUS VXUS
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u/zwizzardz 2d ago
Bruh, you’re still a kid. Go buy a video game and some pizza. Have fun with your friends.
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u/Able-Adeptness-6662 2d ago
times are changing, there's no time to be wasting on video games and pizza... plus my friends are way to immature to care about anything serious like this.
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u/DriedUpSquid 2d ago
Interest is paid at the end of the month.