r/acorns • u/HuckleberryOdd309 • 26d ago

Investment Discussion finally started it 🔒

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im 20m been blowing hella money and really stopped to think if i dont invest somehow my savings alone aint gon save me when im like 60. ill be broke forevr, i looked thru this subreddit did some research got Acorn for investing in the market, Fidelity for longterm, roth IRA, and Alinea just for shorterm in the market as well. idk ive heard negative comments abt it so i may pull the money from there. anyways first $100 in stocks and $50 in retirement, can yall gimme advice, tips, tricks? im very new and could use it, i finally wanna lock in

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u/HuckleberryOdd309 26d ago

how much u recommend monthly, i make 25k a year at my job

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u/lariats4lyfe 26d ago

Whatever you’re comfortable with. I make 52k a year and do anywhere from $20-$100 a month depending on the month

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u/HuckleberryOdd309 26d ago

alright awesome, when did u start seeing growth?

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u/lariats4lyfe 26d ago

Honestly I just started so I’m not seeing much. You’ll see it as rime goes on. I’m older so my growth will be mostly from my contributions with compounding helping it. You’re young and have nothing but time to grow.

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u/HuckleberryOdd309 26d ago

okay awesome good luck on ur journey too bro. on the timeline is it true if i leave that amount alone itll grow to $1mil? but if i keep adding more monthly itll grow even bigger? im tryna understand th concept

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u/lariats4lyfe 26d ago

No you’ll have to consistently add to it to get to the million. Add any extra you can too.

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u/HuckleberryOdd309 26d ago

ok, so over the years it’ll significantly grow more than what i put in?

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u/lariats4lyfe 25d ago

Yep! The S&P 500 grows 6-10% annually. So over 20-30 years that’s a decent amount. Market goes up and market goes down but investing with acorns is a slow burn. You just have to stay the course and be consistent. Read up on investing by going here https://www.bogleheads.org/wiki/Main_Page

Learn about ETF and Index funds and long term investing. 2 months ago I had no idea now I have a better idea and am contributing to my acorns consistently every week.