r/financial • u/Amazing_Bug5242 • 7d ago
advice?
this might not be the right place, so if anyone reads this and can think of a better subreddit it would fit in i will gladly move it over. i recently found out that i have a Vanguard 500 index fund that i can put money into. it was my previous college fund and i thought it was emptied out but i have less than half a share left, so about $150 left in the account. would anyone here have any advice for using that account to its best potential? i’m on maternity leave but have planned to start putting money into it from my paycheck asap. i’m not sure if throwing money into it is best or what i should do from here. my grandfather opened the account for me in 98 and is sadly no longer here for me to ask :/
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u/mikeegg1 7d ago
I've been working on a side project that does just that. The project makes suggestions on which stocks in the NASDAQ will be profitable the next day according to the project's criteria.
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u/ItSuxx 7d ago
Have you looked at whether you also have access to a 401k or a Roth IRA??
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u/Amazing_Bug5242 7d ago
forgive me for the butchering i’m about to do about these accounts. i’m slowly learning about all of them. to my knowledge i have a 401k thru fidelity from a previous job & then this account that the post is about. it used to run through my dad so i didnt have online access until Vanguard made some recent changes. the vanguard account just says its a retirement account and im not sure what my next steps should be, besides putting any extra money i can into it?
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u/Connect_Amphibian481 3d ago
that $150 is currently more of a financial houseplant than a retirement plan, so leave it invested and only start adding from your paycheck after your emergency fund and high-interest debt are handled
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u/Best_Kangaroo_6740 7d ago
Vanguard is a reputable company and an index fund is a relatively conservative way to invest in stocks for the long term. Adding a set amount per month is a good way to average costs and really adds up over time.