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Finished high school 7 years ago. been working for 6 of them. first time i reached $10,000 in savings (25yo)
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Congrats.
Once you get to $10k it starts to matter where you put it - for example a managed fund will make it grow significantly faster than if you left it in the bank.
Don't managed funds have lower growth and significantly higher costs than index funds?
Yeah I tried one of those a while back and was pretty dissatisfied with it. All it did was lose money each month due to "fees". Felt like a scam. So I pulled the money out and put it in a high yield savings account instead. I've seen a ton of growth with that. Being a moneybro investor absolutely was not for me.
That's my impression as well. I would recommend making a free account with Schwab or Fidelity and putting your savings in SPY