Single stock investing can be fun but if you’re looking for long term wealth building you need to get into a mutual fund or something like that. Low and slow like a BBQ
I’ve got various single stocks but nothing wild, and I do a 10% contribution to 401k target date every check. It won’t set the world on fire (up around 12.5% this year), but it is “safe” and a secure way to ensure you’re not broke when you’re 70.
if you’re 18-25, don’t think you’re too early to start. Start now, anything helps
I’d like to branch out and use around another 5% of my income towards something else, I just am not well versed in a ton of other options and haven’t taken the time to learn more
Option puts and calls have always interested me but they feel very gambley as a novice so I have never taken the dive on that
Last note If your job offers 401k always enroll and put in at least what they’re willing to match. My company for example does 4%, so it’s basically like I’m getting free money guaranteed that has the chance to also grow on average at around 12% annually.
if you’re making between 60-100k+, you’ll probably want to use a Roth401k because there’s an extremely high probability that you’ll pay less in taxes in the long run that way
Last last note: don’t fucking touch that money once you’re putting it in. Treat it like it doesn’t even exist