Hello!

[ksmith904]

Hi there guys and gals, I've been frequenting quite a few investment-related forums and decided to make an account on the best-looking one.

First a little background on me:

I'm a 22 year old college student (halfway through associates degree, Accounting Major), I'm paying for school cash right now because I can afford it. I plan on getting some sort of loan to attain my bachelor's, as I'm sure I will have moved out of my parent's house within the coming months. I have a decent, stable job that doesn't pay me particularly well, but in Florida where unemployment is 14%, it will do for now.

My monthly expenses are estimated at $400, approximately 1/5 of my monthly income (like I said, not much). I put aside most of the remainder for the upcoming semester's tuition and books. Even so, I still find myself having a few extra hundred dollars at the end of the month sitting in my checking account, earning nothing. I'm on the verge of opening a Roth IRA account with Fidelity, which I hope to max out once I finish school and begin my career.

I've done a fair amount of research in the past few months, as the idea of investing has always appealed to me. I humbly admit, however, there is still much more for me to learn before I even consider taking a position in anything. Hence, my arrival to Early Retirement.

I hope to learn as much as I can while I'm young, and put my newfound knowledge to good use when I'm able to afford it. Look forward to conversing with you all!


-KS904

 

[travelover]

Welcome. You are smart to start investing at such a young age. Check out the STAR fund at Vanguard, too. It makes a good starter investment fund and has a low ($1000) minimum.

 

[walkinwood]

Welcome! I wish I was thinking of investing when I was 22!

I would recommend reading a book or two from the Early Retiremet FAQ forum. Then you can decide what to do with your savings.

However, if you can reduce your taxes, or can get an employee match, you should be putting that savings in a tax deferred account like an IRA or 401-K. Even if all it does for the moment is sit in a money market fund, at least you don't lose the opportunity to get a tax break.

All the best.

 

[ksmith904]

Thanks for the advice.

I plan on placing the bulk of my portfolio in tax-deferred and tax-free accounts, especially if I find an employer with an above-average match rate once I finish school. I plan on maxing out a Roth account once I have the money, for the time being I suppose I'll just add a couple hundred dollars a month, to get myself in the habit.

Other than the books in the FAQ page, is there any other literature I should thumb through? Perhaps a broad investing book covering the different investment vehicles (high/medium/low cap stocks, junk/muni/etc bonds, currency, mutual funds, ETFs, REITs, commodities, etc.)? I've been looking over websites like Morningstar and Kiplinger to get a feel for the terminology, and have even set up a portfolio simulator account on Investopedia.com. Is there anything you would recommend to familiarize myself with some of the basics/building blocks on the road to informed investing?

Thanks

 

[Fireup2020]

Welcome to the board!!

 

[Nords]

Other than the books in the FAQ page, is there any other literature I should thumb through?
Is there anything you would recommend to familiarize myself with some of the basics/building blocks on the road to informed investing?

That's what the book list is for! They're not complex or boring, but there's no Cliff Notes here.

You've seen this list, right?
http://www.early-retirement.org/for...reading-list-with-a-military-twist-46732.html

As Warren Buffett once said, "Read the whole thing. Start with the 'A's."