19-Year-Old Server-Turned-Reseller With $70K In Savings Asks For Stock Investing Advice On Reddit – ‘I Feel Stuck’

Another member of the r/FinancialPlanning community mentioned that he keeps all his money in VOO.

“I have the majority of my money in VOO,” he wrote.

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QQQ’s ETFs

QQQ’s ETFs were mentioned quite a bit in the comment section of the r/FinancialPlanning community thread and one Redditor, in particular, says the young investor should put his money in QQQ since he has time to ride out market volatility.

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“Just go QQQ, SPYG or some type of high-growth/high-risk fund. You have time on your side,” the Redditor said.

A second community member advised the college student to split his funds between VOO’s S&P 500 and QQQ as part of a more expansive investment plan.

“If you are starting with $14,000, keep it simple, buy VOO at regular intervals, not all at once. Start with $2,000, then $1,000 per week until you hit $8,000. Then split $1,000 into Invesco’s QQQ Nasdaq 100 ETF and $1,000 into VOO each week until the full $14,000 is invested. Then sit tight and let it ride,” the Redditor wrote.

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Max Out Roth IRA

Most members who commented on the 19-year-old’s post agreed that maxing out the Roth IRA is a very good move and several suggested he do the same in the following year.

“Roth IRA with $7,000 max contribution for 2024 now and another $7,000 for 2025 in January,” a comment reads.

A second Redditor advised the young investor to max out their Roth IRA every year, while another said there’s a reason everyone recommends it.

“There’s a reason the advice to max out the Roth IRA is the most popular answer you see. It’s really good advice. Max out your contribution for 2024 now, then do it again in January. Rinse and repeat. Put it in something like a reputable growth fund and leave it alone,” he said.

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This article 19-Year-Old Server-Turned-Reseller With $70K In Savings Asks For Stock Investing Advice On Reddit – ‘I Feel Stuck’ originally appeared on Benzinga.com