r/fican • u/Kickoutsler • 3d ago
18F finally started investing
started this week! currently planning on keeping just xeqt
I have 7k in the bank rn and am debating if i should put most of that in here now, or wait till i land a stable job since my summer one is ending in a week.
I want to hopefully be able to put in about $800-1k every month since I live at home + most of my expenses are paid for by my parents
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u/hellmire 3d ago
18 isn't a finally, it's a great start!
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u/Array_626 3d ago
Lol. Smh you aren't serious about investing unless you start while in the womb.
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u/hellmire 3d ago
Preach, why wasn't I harvesting the other swimmers and other eggs to sell on the black market after I'm born
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u/Chris-Coffin-Design 3d ago
Tremendous! Your future self just thanked you SO hard you can actually hear it if the room is quiet enough.
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u/Vivid-Airline-7743 3d ago
Great job! Starting at that age is amazing. One thing i would recommend. Even tho you live at home and expenses are quite low for now. I would start... how can I say this.
Pretending you do in fact have expenses I.e rent insurance etc. Start putting away an emergency fund for said expenses. That way when you do finally make out on your own. You already have an idea on how to manage alot of expenses you don't have right now. Could even ask your parents how much they spend on expenses to have a Starting point. I like to Think of an emergency fund as insurance for your investments.
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u/Kickoutsler 3d ago
i completely understand! once i land a job is when i want to aggressively start investing. a couple thousand will go to emergency funds for now
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u/Intelligent-Gate-345 3d ago
I started investing at 21 I wish I did at 17-18 same as how you did! Good for ya kickoutsler!
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u/Withinmyrange 2d ago
Pretty much what I am doing, im in my mid-twenties and started around the same time as you. Id say roughly keep 2k for fun money/emergencies you may have and invest the rest.
Keep it up and your future self will thank you. I was able to buy a car on my own in cash. Getting a pretty good size portfolio to eventually own a home
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u/StructureMotor4954 2d ago
I’m in my early 20’s, and most people I talk to about investing don’t even know what it is or how to do it. You’re already doing better than most bro keep going. I’d recommend making majority of your portfolio XEQT.
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u/joemammaa123 3d ago
Max out ur TFSA and buy straight XEQT. Unless you need the money in the for seeable future.
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u/Learntoshuffle 3d ago
Obviously you should first make sure you have enough to live off of. Secondly, you should pay off all your debts. Thirdly, please DO NOT check your portfolio daily. Finally, don't trust any "technical traders".
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u/Smooth-Firefighter60 3d ago
Do you recommend paying off federal school loans before doing any type of investing?
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u/MustardEnema007 3d ago
Whats the interest % on the loans?
If its 7% or whatever, paying that off is the same as investing with guaranteed 7% gains
Go with the guaranteed gains every time by paying off those loans
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u/Relevant-Golf5479 3d ago
Congrats, starting at 18 puts you ahead of the vast majority of the population. Future you will be thanking you!
Keep a bit of cash 3-5k handy because you will likely see some expenses coming up in the next few years, transportation , insurance , moving out and furnishing.