Submitted by septiclizardkid t3_zzdho5 in personalfinance
So yeah, for context I'm 17 so clearly I have plenty of time to figure this out and hone my skill, but I'd rather do it now as I started my new job (Chic-fil-A) 3 weeks ago, just got my first pay check, pretty fair for a 7 hour work day, $130. I know how to save, but how exactly would I go about Investing?
I tried Crypto starting at the end of 2021, but didn't put too much money or effort Into It (about $3 worth of Dodge?), and don't really think I'll get back Into It like that, aside Stocks time to time. So yeah, any tips would be cool, thx yall
biondablonde t1_j2azl0k wrote
Open a Roth IRA with a low-cost provider like Vanguard, Fidelity, etc. and put as much into it as you possibly can (yearly limit is the the lesser of your annual earned income or $6500 starting in 2023). Invest the money in a low-cost index fund (a Total Stock Market fund is perfect) and don't mess with it. Time is your best friend when it comes to retirement investing and you'll have a huge leg up by starting at 17.