Hi all,
As the title says I am 24 starting my journey in investing and have a few questions.
I currently make ~ 95k and live at home with parents, I don’t pay rent, but I do pay $1000/ month towards my car payment (took a loan from family, will be fully paid off in 8 months, after which I’ll have no “expenses” per se)
Now regarding my investment journey, I’ll start of by saying all the research I’ve done points towards maxing out Roth IRA, so I’ve set that up today and am planning to contribute monthly and invest all of it in VOO. I also have been contributing to my 401k since I started working about 1 and a half years ago, contributing 10% with a 5% employer match.
Now the above retirement savings which I won’t be able to touch until I’m older, but what can I do with the rest of my money that can get me some short term returns as well? Is that even possible without risk? I am willing to invest $1000 monthly, is it best to just invest all of it in ETF’s? Is there a benefit in investing in different ETF’s or can I just put it all towards something like VOO like I’m doing with my Roth IRA. I don’t mind a bit of risk so would contributing maybe $800 towards an ETF and $200 towards company stocks be a smart move?
Since there is a capital gains tax for a regular brokerage account, my understanding is that the benefits of this are: no limit on how much you can invest yearly, and withdraw your contributions anytime tax /penalty free, is my understanding of this correct?
Thank you for any answers and advice!