HOW TO START INVESTING

first off, why you should listen to me on this specific topic (because a lot of ppl on the internet love to share their 2 cents but don’t have the foundational knowledge to back it up)👇🏼

✔️ i have a degree in economics & finance

✔️ i have worked on wall st in nyc my entire career

✔️ i turn 25 in a few months and have already…

✨ paid off $45K in student loans

✨ paying for my fiancé and i’s wedding in full

✨ paid for 3 separate trips to europe in an 8 month time period (spain, italy, UK)

✨ saved up 8 months of expenses for an emergency fund

✨ saved up $$ for a down payment on a house when our lease is up

✨ been investing since i was 20 years old

HOW TO START INVESTING?👇🏼

first off, you need to determine what type of investment ACCOUNT is best for you. there are a ton of options out there that have a variety of benefits depending on your financial situation, so i will outline a hierarchy of accounts below…the intention is that you should start at the top, and if you qualify for/that account makes sense you for YOU, start with that account & maximize it. if you cannot maximize that type of account, work towards maximizing it before opening the next account type

💰 401K

🤍 regardless of your financial situation, if a 401K is available to you (especially if your employer offers matching) contribute as much as you can

💰 roth IRA or traditional IRA

🤍 roth IRA - if you expect to be in a higher tax bracket at the withdrawal age of 59 1/2 than you are today, this is a great account for you.

🤍 roth IRAs penalize you for withdrawing before certain time limits, but you CAN withdraw up to $10K for a downpayment on your first home!

🤍 traditional IRAs make sense if you expect to be in a lower tax bracket at your time of withdrawal than you are today

💰 brokerage account

🤍 best if you don’t qualify for the types of accounts above

🤍 best if you want to withdrawal or contribute as much as you want whenever you want

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