this post was submitted on 11 Nov 2023
76 points (91.3% liked)
Personal Finance
3819 readers
1 users here now
Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Join our community, read the PF Wiki, and get on top of your finances!
Note: This community is not region centric, so if you are posting anything specific to a certain region, kindly specify that in the title (something like [USA], [EU], [AUS] etc.)
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Got it. Will do. This is the kind of advice I'm looking for because I don't understand anything about investing, all I know investing is the only way to get ahead in life. Roth IRA. Got it.
If you have a choice on what stonks you invest in: pick an index fund. Don't go for single stocks.
Index fund. Got it.
The max per year you can put in is $2k. Get the whole $2k in there right now.
In January, put the next $2k in.
Generic "assume everyone on the Internet is from my country." US Roth IRA contribution limits for 2023 is $6.5k, going up to $7k next year. If different country, disregard.
Aye! Thank you. Yes USA. 7,000 maximum Roth IRA annual contribution. Got it.