Investment Advice
Hey! I am a new grad. Recently started investing in stocks. From what I have researched I am planning to invest more in Index Funds like VTSAX, VTI, VOO, SPY. I am currently buying these shares from Robinhood. I wanted to know should I switch from ETF to Mutual Funds. Also should I open a Vanguard/Schwab account and set up recurring monthly deposit or shall I continue buying them from Robinhood. Which one is more convenient in long term? How do you guys invest in Index funds?
Open up a Roth IRA, and buy VOO. Lowest fee index that maps sp500. 35% of any money you add in effectively reduces your annual gross income up to a certain number. Also if youre young try reading about and dabbling with growth stocks like TSLA, Lemonade, etc. Also don't blame others if you lose money you're the one driving the ship. This is just data you are free to take or leave. Best brokerage, you invest, Charles Schwab, m1. Best high yield interest account: Ally
Thanks a lot! Regarding Roth IRA If I withdraw any amount from it before 59.5 I will have to pay tax + 10% penalty. I have already maxed out my 401k. I couldn't get the need of a Roth IRA account.
Ok then go with regular brokerage. Long term capital gains 20% short term is your regular tax rate. So buy dividend paying VOO or REITs. Qualified dividends after 1 year 15-20% tax rate.
Buy index funds, use any other broker than rh
Index funds are way too overvalued currently, specially the S&P500
Incorrect, they are valued correctly.