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728649 No.728649 [Reply] [Original]

Would automatically investing $200 a week in a S&P 500 tracked ETF be a good place to put long term savings?

>> No.728669

As long as there's not an expensive commission per transaction. In that case you'd be better off doing monthly investments (or less frequent)

>> No.728680

Simple answer:

Yes. Rich people are rich cause they have assets, by setting money aside you're accumulating assets.

If you want to make serious money I'd focus on increasing your income and not relying on investing. Imagine if you'd be able to put 100k + per year into savings, then you'd get some serious compounding.

Vanguard has an S&P 500 etf, ticker: SPY

>> No.728721

>>728649
Yes.

>> No.728813

>>728649
This is what I'm currently doing, but with $100 a week to max out my Roth IRA

>> No.728840

>>728649

At first, yes, but at a certain point you'll want to diversify.

>> No.728851

>>728840
>diversify
>an index etf
pls stop

>> No.728866

>>728851
he means like bonds or international stock or different types of investments that are less correlated with stock price fluctuation.

>> No.728874

If you're young, no. You should use that money to make more money on mainstreet. Wallstreet is for when you've got a steady income and are settled down, and need someplace to park surplus cash beyond, say 20 thousand.

>> No.728893

>SPY
>not VOO

It's like you enjoy losing money.

>> No.729253

>>728874
Can you suggest some easy way of making money with money on main st? OP sounds like a motivated guy

>> No.729262

>>728866
This. Diversifying isn't about just a matter of portfolio selection, it's taking steps to protect yourself in the case of catastrophic failure in a single area.

>> No.729269

Posting because the OP is essentially what I'm done. I'm in graduate school on a stipend but I have one share in IVV (S&P 500 index fund). I've collected 2 dollars in quarterly dividends since I got in, I know it's chump change but it's a start. The plan is to hold while I save more money in cash in my savings, currently 200 a month. I'm going to wait and see what happens with the Fed and rate changes before investing more, but also plan on saving at least 6x my monthly expenses until I drop more money in the market.

Just my personal strategy OP

>> No.729295

I just read an article where someone who is 25 can be a millionaire by 65 if they invest 3xx a month in an account with a starting value of only 10k at only 7% growth a year.

If I had my calculator I'd figure the exact numbers, but the point is if you start young and keep at it you can retire with over a million dollars.

>> No.729298

>>729253

Start a business, or just worry on saving more money, cutting expenses and debts.

A lot of people get so wrapped up in wanting to invest money when the monthly return on cutting out waste in their budgets would give them a much higher return.

>> No.729301

>>728649

I throw 600 into an S&P index every two weeks automatically through my companies 401k. There are no transaction costs and minimal expenses. I rarely ever look at the performance. Market timers and stock pickers might as well go down to the horse track.

>> No.729463

>>729301

lol no. There's a big difference in gambling and knowing when to enter/ exit a stock based on fundamental and technical indicators. If you don't understand, sure, it's easy to make that assumption.