
ChicoLite
Supreme Gentleman
- Joined
- Oct 16, 2022
- Posts
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first you need to find a brokerage, good ones
Roth IRA: good bc you can invest your money until you're 60, you'll be able to take out your earnings tax-free but check because they always change the criteria every year.
Or an Individual Cash Account: good because there is no limit on how much you can contribute. Though you will be taxed on your capital gains, you can deposit and withdraw as much money as you want without any penalties.
Then deposit money. In a Roth IRA, you can deposit up to $6,000 for 2022 and $6,500 for 2023. For Individual cash accounts, you can deposit as much as you want. Just make sure to deposit what little money you can. You can even automate monthly deposits.
Last is to buy assets. Once you have money in your accounts, you can buy stocks, ETFs, or low-cost index funds. Best are SPY and VOO.
- TD Ameritrade
- Charles Schwab (Jew so a bit risky)
- Fidelity d.E-Trade
- Vanguard
Roth IRA: good bc you can invest your money until you're 60, you'll be able to take out your earnings tax-free but check because they always change the criteria every year.
Or an Individual Cash Account: good because there is no limit on how much you can contribute. Though you will be taxed on your capital gains, you can deposit and withdraw as much money as you want without any penalties.
Then deposit money. In a Roth IRA, you can deposit up to $6,000 for 2022 and $6,500 for 2023. For Individual cash accounts, you can deposit as much as you want. Just make sure to deposit what little money you can. You can even automate monthly deposits.
Last is to buy assets. Once you have money in your accounts, you can buy stocks, ETFs, or low-cost index funds. Best are SPY and VOO.
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