I make $700 a month and I have no other expenses except personal ones. This is for my Roth IRA account. I don't need emergency fund because my parents are still supporting me. My college education was fully paid for by my parents through Washington's 529 College Savings Fund (prepaid college tuition fund) well before I even started so I don't have to worry about loans (they ended up paying less than half the cost of current tuition). Only expenses I have is food and other personal items I buy for myself (video games, electronics, etc.). I don't have a car because I use public transport or walk. I don't expect to buy anything expensive for the next 5 years. Maybe a very cheap car when I graduate if I really need it.
How often should I deposit money? Monthly? Or do it all at once? Is that going to be at the beginning of the year or at the end? I am reinvesting dividends.
Which funds should I put money in? How can I diversify within Vanguard? I am not sure I can invest $5500 every year (I graduate in 2020 so I will invest $5500 every year when I am working full time). But I will definitely do $200 a month.
What are some other things I should be careful of as a first timer?
I plan to retire at maybe 60. I am looking for all and any help I can get.
Submitted October 14, 2018 at 10:21PM by ShamelessyBlameless https://ift.tt/2P0AhZY
