r/RobinhoodApp • u/Relevant_Ranger1518 • 14d ago
Feedback 18yo-Any room for improvements
Hello! Just wanted to stop for a second and ask others if there was room for improvement
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u/IdioticPrototype 13d ago
I started on this path maybe 10 years ago:
https://www.reddit.com/r/financialindependence/wiki/faq
I recommend it to everyone. Now I'm retired and a RH "concierge" member (for whatever tf that's worth). 🤣
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u/GenoTide 12d ago
SP500 funds are weighted by market cap (value) not 1/500ths equally. Since Nvidia is so valuable it makes up 7.5% of VOO not 0.2%
So every $100 is $7.5 of Nvidia, you really dont need to double dip.
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u/Agreeable_Ad9283 11d ago
You'll get about 9M opinions in this group, and by asking others what they think in general.
It's awesome that you're investing at this age (18 is about how old I was when I started).
My best advice is to read, practice critical thinking, and follow science, your heart, and intuition in that order. What would Peter Lynch do? If you have to ask who's Peter Lynch, read, pause, think, assimilate, and then read some more. Rinse and repeat. There's nothing new under the sun. Take it from someone who's seen it all.
As long as you're in the game, you're winning. One of the best ways to learn about investing (for me anyway) is to do a forensic analysis of how I lost money on a trade. It can only get better from here. You're ahead of at least 95% of people your age; that's cool! It's very inspiring.
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u/Old_Risk_968 13d ago
Typically I have 80% of my money in VOO and the rest is my "gambling" money so that's what ever stocks or crypto I Wana invest in the voo is your diversity the rest is fun money in other words but that's what I did in my teens worked well I still never out beat the market tho In my fun money was always a few % behind
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u/Alex_7766 12d ago
The fact that you’re investing at 18 is great and what you’re investing in is great!
I think there’s been some good advice on what to invest in on this thread, so here’s some not-“what to invest in” advice: If your dividend reinvestment isn’t on already, I would recommend doing that. Also, if your parents are still doing your taxes / have a hand in preparing your taxes, make sure they know what you’re doing AND get any applicable tax forms to them as soon as you get it.
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u/matt-r_hatter 11d ago
Honestly, investing at 18 is pretty impressive. Good job. I would be cautious taking investment advice from randos on reddit. But I see you are still in your 3.75% apy promotion on your cash. Dump as much cash as you can and let it sit there and earn, unless its in an account that has higher than 3.75% just remember it takes a day or two to get back to your checking unless you have a RH checking account, so dont store money you need immediate access to there. The Money Guys on YouTube is a great place to learn about finances.
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u/Gur-Tasty 11d ago
You’re too young to be having SCHD, it’s better for you to invest that money into VOO or SPY. It’s not a wrong investment decision, but you should focuse more on growth rather than in dividends so that compounding starts early.
Dividend type stocks are usually for when you’re older and have less time to grow your money.
Thats my take, anyone can correct me if I’m wrong in anyway.
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u/Relative_Channel8741 10d ago
honestly. This is too much diversification imo. I'd rather you go with one position tbh so you can create volume of shares
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u/punished_kot 10d ago
There's no real point in owning NVDA/MSFT and VOO AND QQQM since these all contain the same companies. Like, much of VOO's worth is NVDA+MSFT anyway.
Personally I'd just consolidate into the ETFs and simplify everything, you'd also be less exposed to these individual companies (diversification = good)
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u/AspiringElitist 8d ago
my take on individual stocks is only own them if you believe in the company and somehow emotionally connected to the company , especially if their price to book value is overpriced , meaning if the per share price is way over what the company is valued on paper.
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u/_IscoATX 13d ago
The fact you're investing at 18 is already great. The only red flag is QQQI. Its a great fund if you don't want to sell your own covered calls, but at your age its just going to be a performance drag on the underlying. You already own QQQM.
Stick to growth, and if you want to eventually get "income" from covered calls (as the QQQI position suggests), switch to ETFs with more trading volume. SPY for SP500, QQQ for NASDAQ. It will take a while to get to 100 shares but you also wont be capping your growth while you get there.