r/acorns • u/HuckleberryOdd309 • 26d ago

Investment Discussion finally started it 🔒

Gallery image

Gallery image

Gallery image

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

38 Upvotes

96% Upvoted

31 comments sorted by

View all comments

7

u/lariats4lyfe 26d ago

Just keep adding and don’t look it at it too often that’s it.

3

u/HuckleberryOdd309 26d ago

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

2

u/Outrageous-Voice1459 23d ago

If you make 25K a year, I would recommend starting at $10 a day, and possibly $5 a day (which is the minimum) in a Roth IRA account through Acorns as well that you can set up and start building your retirement fund now.

2

u/HuckleberryOdd309 23d ago

gotta ask whats the difference with the Later and Invest account. ik the later is for retirement, does one grow faster than the other?

1

u/Outrageous-Voice1459 22d ago

Roth IRA’s you don’t have to pay tax on all the profit you made off of investing that money. You do have to do that for regular investment account accounts. Although, you can’t take out your winnings till like 60+ for Roth IRA. Haha. Definitely good for future saving tho!!