I've been pointlessly building a savings account for my children to go to college in about 12 years. I'm putting about 150 Euros a month in at the moment which will increase in time (I'm EU based).
Obviously I'm earning 0 interest and so am looking at putting this in to an index fund that tracks the S&P500 instead. I'm confused however about how I actually go about doing this and have some questions.
I downloaded Plus500 and played with the demo account to see if I could get my head around it.
1) Is the US500 (Indeces) the same as the S&P500. If not, what's the difference? There is no S&P500 listed on the app in my locality. 2) I'm confused by the leverage. I don't want to leverage anything. I want the money I invest to be invested, not more which would open me up to potential losses over my assets (although unlikely obviously in an index fund). However, when I go to buy in the demo, the only option is to leverage at 1:20. I can't just say "Ok, put 150 in to this" for example).
These things lead me to believe that I've been looking in the wrong place. Looking at this link it appears that the things I'm looking at on PLUS500 are no index funds
https://money.stackexchange.com/questions/110740/where-can-i-invest-into-sp500-without-leverage
So where do I go to invest a small amount every month in to an Index fund without leverage? Do I have to walk in to my bank or can I do it through an app?
I sincerely apologise for what probably seem to you guys to be ridiculous questions, but I'm a little lost here.
Thanks
Submitted September 14, 2021 at 06:12AM by barryriley https://ift.tt/3tElR3q
