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tf/beginners
456
tf/beginners•Posted by u/newbie_investor•

I'm 28 with $10,000 in savings — where do I start without making stupid mistakes?

Hey everyone. Software developer for 5 years, finally have some savings to invest. I've read a lot of contradictory stuff and I'm afraid of making a mistake at the start.

My questions:

  1. Is a broad market ETF like VTI or VOO really the best approach to start?
  2. Should I paper trade before putting real money in?
  3. Best broker? I keep hearing about Fidelity, Schwab, IBKR...
  4. How much time per week should I dedicate when starting out?

I'm not looking to become a day trader. I want to learn to invest intelligently long-term and maybe try swing trading later.

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chart_wizard·edited

Honestly, for a long-term beginner:

  1. Open a Fidelity or Schwab account (avoid Robinhood)
  2. Put 80% into VTI (total market) or VOO (S&P 500)
  3. Keep 20% in cash to learn stock picking slowly
  4. Read "The Intelligent Investor" by Benjamin Graham
  5. Invest regularly every month, don't try to time the market

Paper trading is fine for learning the platform but it teaches you nothing about psychology. The pain of a real loss is the best teacher.

267
swing_king·edited

Can confirm. I paper traded for 6 months, I was a genius. The day I put in real money, I panicked on a -3% dip and sold everything at the worst moment. Psychology is 80% of the game.

89
newbie_investorOP·edited

Thanks! Opened a Fidelity account yesterday. Quick question though — what's the difference between VTI and VOO? They both seem to track the US market.

23
macro_man·edited

One piece of advice I wish I had at 28: don't underestimate time. At 10% average annual return, $10,000 invested now is worth $67,000 in 20 years. Time is your greatest ally.

156
forex_sarah·edited

Fidelity or Schwab are both great. IBKR if you want to go further later — best broker on the market but the interface isn't the most user-friendly for beginners.

78