Hey guys,
As the title states, I would like to know how I (17 years old), could start with investing. From what I've learned in another
thread that I posted it seems to me:
- Roth IRA is the way to go
- VTSAX 100% , Might change this to 90/10% however.
- Do it yourself, betterment eats fees
All good, sound, info which I've done outside research to come to a similar conclusion. A Roth IRA is advantageous because I'll be in a higher tax bracket for sure when I retire, a VTSAX is an ideal combination of all 3k+ stocks in the US, and the 15-35 BPS Betterment charges can eat a sizeable chunk of income.
BUT...
Most companies require you to be 18. WiseBanyan requires you to be 18. I'll probably need parent supervision or approval to open a Vanguard account. Every turn I take is met with being restricted, simply because I was born in '99 and not '98. I understand this is temporary in the grand scheme of things, but I want to start NOW, and take advantage of my greatest ally right now: time.
And now for the questions:
1. Should I add anything in my portfolio besides VTSAX? I'm pretty risk-averse, and I think I could mentally handle a 100% allocation in stock, maybe 90/10 (it seems from what I've read it's beneficial sometimes to have bonds in your allocation). VTSAX from what I've read is domestic stocks, but what about international exposure? I understand some of the bigger companies involved in this fund (sorry if wrong term) have international presence, but still. Is it enough?
1a. What's the difference between all the different "versions" of VTSAX? If you go to the
website it also says "available at an ETF and an investor share". Which one should I go with? Why?
1b. Is there a minimum account balance/ deposit required to start a vanguard account and start buying VTSAX?
2. What are some short-term goals that are good to have on the road to FI/FIRE?
3. What are some good Financial Independence/ personal finance books/resources to read? I've read most of MMMs blog, and the JCOLLIN Stock series, and taking a dip into madfientist as is.
More questions will be added as I come up with more. Thanks as usual.