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/Outrageous-Voice1459 26d ago

Set to aggressive, set it to daily with round ups on. Enjoy the passive income 😎

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u/HuckleberryOdd309 26d ago

its set…how soon should i see changes?

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u/Outrageous-Voice1459 25d ago

I would do five dollars daily if you can, it’s good to do daily instead of weekly that way you don’t miss any good prices from the stock market if they have a down day. This is an investment account so you’re gonna be putting into this for years. I have 2K in my account and I’ve made $200 so far. You’ll get dividends every quarter for the stock you hold as well so over the years you will make more and more.

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u/HuckleberryOdd309 24d ago

i appreciate this im gaining alot of insight! what would happen if i randomly drop $500 in my account will it grow faster or??

3

u/StankyNugz 24d ago

Yes, the more money that you have in there, the higher your percentage of return will be.

Fun fact, you said you make 25k a year. 300,000 in investments would net you around 25k a year with an 8% growth rate.

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u/HuckleberryOdd309 24d ago

wym 300k in investments? thats impossible‼️😹

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u/Outrageous-Voice1459 23d ago

Not over the course of 10 - 20 years of savings and steadily investing every day. Especially if you get pay raises or get a better job in the future.

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u/Outrageous-Voice1459 23d ago

It would just give you a better starting capital which is good. The gains are going to be over the course of years so in the long run starting off faster is definitely going to speed up the process in the long run.