Hello, I'm a 21-year-old graduate student who's just embarking on my journey in personal finance. There's so much advice online and elsewhere, from so many different sources, that it can feel a bit overwhelming. I'm hoping to get some straight answers here. I have a few specific questions:
- Retirement Savings: I'm aware that it's never too early to start saving for retirement, but what are the best options for someone my age? Should I start with a Roth IRA or traditional IRA? What are the pros and cons of each?
- Real Estate Investing: I'm interested in investing in real estate as a way to generate passive income. How do I assess whether a property is a good investment or not? What are some key indicators I should be looking at?
- Stock Market Investment: While I am studying, I want to start learning about and investing in the stock market. What are some beginner-friendly resources that you would recommend? Are there certain types of stocks or funds that are safer or more suitable for beginners?
- General Finance Tips: What general financial habits should I be cultivating at this stage in my life? Are there any common mistakes you see beginners make that I should try to avoid?
Submitted June 26, 2023 at 10:19PM by C0mputerguy https://ift.tt/I7TraHh
