Question 1

How do I start investing with little money?

Accepted Answer

You can start investing with as little as $100 using index funds, ETFs, or fractional shares through platforms like Robinhood or Fidelity. Begin with a diversified portfolio and consistently invest small amounts monthly.

Question 2

What is the 50/30/20 budget rule?

Accepted Answer

The 50/30/20 rule allocates 50% of your after-tax income to needs (housing, food, utilities), 30% to wants (entertainment, dining out), and 20% to savings and debt repayment. It's a simple budgeting method ideal for beginners.

Question 3

Should I invest in a 401k or IRA first?

Accepted Answer

First, contribute enough to your 401k to get the full employer match (free money). Then max out a Roth IRA for tax-free growth. Finally, return to max out your 401k if you have additional funds.

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