Personal Finance on Yik Yak | I see a lot of videos talking about investing or investing in index funds(?). I’m just wondering how realistic that is for me who has no experience with stuff like that? Is it worth it to go down a rabbit hole and figure it all out or should I not?

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Personal Finance 1w

I see a lot of videos talking about investing or investing in index funds(?). I’m just wondering how realistic that is for me who has no experience with stuff like that? Is it worth it to go down a rabbit hole and figure it all out or should I not?

Anonymous 1w

I think everyone should strive to know the basics of financial knowledge including knowing what index funds are as well as etfs. Amount many other things.

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Anonymous 1w

It’s very realistic, even with zero experience, most people who invest successfully started exactly there. Index funds are popular because they’re simple, low-maintenance, and don’t require you to outsmart the market (which even professionals struggle to do). It’s absolutely worth learning the basics, but it’s not a deep rabbit hole, you can understand enough to start safely in a weekend and let time do most of the work for you.

Anonymous 1d

Literally as simple as opening a Robinhood account, depositing money, and buying shares of VOO or SPY. Chose Robinhood as an example because it has the simplest interface. Could also go with Charles Schwab or fidelity. It’s not complicated at all.

Anonymous

#3 1d

And yes it is worth it if your money is just sitting in a savings account. I would also look into high yield savings accounts (HYSA) for shorter term savings. Interest rates on these are coming down fast but they’re still vastly superior to a regular savings account. I only keep money needed for spending within 30 days in my regular savings. Everything else is invested in index funds, HYSA, or my 401k