Newbie in the investing game. Index funds or mutual funds.

[cheflife27]

Hello,
Here is a breakdown to make matters easy:

I’m 28 living in my camper van full time with my partner.

Going to culinary school full time

I get a disability monthly allowance for life : $1567 per month and as well a gi bill monthly allowance while going to school, this will last till 2023: $1917 per month

Debt: my partner and I go half on certain debts. Van:$363 (van amount still owned:$37k) . Insurance:$ 95. Phone bill: $25. I have No credit card debt.

Saved up: $12,732

So with that being said, I been very hesitant on going into the investing side just because I want to make sure I do the right things before investing my own money into market. I have done research in the last couple of months but I’am no expert yet to know what is right, guidance is needed!. My mind has been investing in index funds and maybe mutual funds, I just don’t really understand mutual funds 100% yet I know both are very beneficially. I want to be a long term investor, set it and forget it. Should I invest my money into M1 finance or should I open a vanguard, fidelity, or Scwabb mutual fund and invest my money there? I’m very open minded to suggestions/advices/and tips! Thank you!

[MDM]

Index funds are a specific type of mutual funds.

Consider getting started by going to Getting started - Bogleheads.  After you go through that, come back with more specific questions.  See How To: Write a "Case Study" Topic for thoughts on how to frame those questions.

Good luck!

[cheflife27]

Thank you for this! I will review the content you have sent me. Let the studying begin! I will be very interesting in the case study in the following days to come! I need to get the ball rolling!