I currently have a youth brokerage account on Fidelity, and I have about 56% of my money invested in FXAIX (the S&P 500 fund of Fidelity). I’m unsure what I should do with the rest of it, the other 44%. I don’t have a job (am underage), so I am not getting the same tax benefits someone with a Roth IRA would get. That is fine - once I get a job / am older, I will transfer the money from FXAIX into a Roth IRA.
I don’t know how or where I should invest at my age... I think I want to save what I have right now primarily for retirement instead of for a house or other large payment, since I know time in the market is the most important aspect of investing.
Should I increase the % of my balance in FXAIX, since it is a long term investment? Or should I take more risks since I am still very young? And whatever % I don’t invest into FXAIX - what should I do with that money? For example - if I invest 80% of my money into FXAIX and have 20% of it left, should the 20% be split up into gold, silver, crypto, NASDAQ, etc.?
I mainly just want to know what I should invest in, since there are so many junk videos on YouTube telling me to invest everything into the “next big crypto currency” and I don’t know what I should listen to. I want to have some variety but at the same time have a good portion of my account be based on the S&P 500.
I don‘t like the idea of day-trading because of the risk, but I do want to take some risks on possibly specific, small tech funds or single companies… etc, even if this is just 1-2% of my money (ex: my friend told me to invest in BBAI, which seems extremely risky. I’d be fine investing in this, just not with most of my money). Any specific stocks or funds? Businesses? Real estate (not that I have enough for that at the moment).
Last thing - should I invest outside of the U.S. too? Likely because of the way google searches are made to fit your location, I haven’t really been hearing much about investing outside of the U.S. Is this important to do?
If anyone is kind enough to share exactly what their portfolio looks like too - that would be awesome! Thank you everyone.