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-> Household Management
-> Finances
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amother
OP
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 Tue, Jul 09 2024, 11:06 am
Where can I learn more about investing in stocks? I want to try to set aside small amounts every week/month for long term.
Also open to hearing more ways of investing smartly other than stocks.
If anyone can direct me to any podcasts/forums/channels etc.
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amother
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Tue, Jul 09 2024, 11:35 am
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Open a brokerage account (Vanguard, Fidelity, Robinhood, etc.) and easiest is to invest in an index fund which mirrors the S&P 500. So, you’re investing in the whole stock market instead of individual stocks.
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amother
Coral
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Tue, Jul 09 2024, 11:42 am
| amother Lavender wrote: | | Open a brokerage account (Vanguard, Fidelity, Robinhood, etc.) and easiest is to invest in an index fund which mirrors the S&P 500. So, you’re investing in the whole stock market instead of individual stocks. |
Chiming in. Is there a minimum that you need to put in a month? And can you take the money out whenever you need it?
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amother
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Tue, Jul 09 2024, 11:56 am
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There is no minimum. Assuming you are investing in a regular brokerage investment account (and not a retirement account such as an IRA), you can take out the money at any time. If the investment grew, you would pay taxes on the gain. So, for example you put in $100, and after 2 years it’s up to $115, if you take out the $115, you pay taxes on the $15. The tax rate is dependent on how long you had the investment. Anything less than 1 year is considered short-term, which is typically taxes at the same rate as your regular income. Long term gains (more than 1 year) have different rates which can be found online. Keep in mind that this is the stock market, so you could also potentially lose money if the stock market goes down. For this reason, some choose only to invest in the stock market for longer term savings goals.
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