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Jakdracula ,
@Jakdracula@lemmy.world avatar

Put that first $2k into an IRA before the end of the year.

LemmyInRedditSux OP ,

Got it. Will do. This is the kind of advice I’m looking for because I don’t understand anything about investing, all I know investing is the only way to get ahead in life. Roth IRA. Got it.

Jakdracula ,
@Jakdracula@lemmy.world avatar

The max per year you can put in is $2k. Get the whole $2k in there right now.
In January, put the next $2k in.

avguser ,

Generic “assume everyone on the Internet is from my country.” US Roth IRA contribution limits for 2023 is $6.5k, going up to $7k next year. If different country, disregard.

LemmyInRedditSux OP ,

Aye! Thank you. Yes USA. 7,000 maximum Roth IRA annual contribution. Got it.

Gap ,

If you have a choice on what stonks you invest in: pick an index fund. Don’t go for single stocks.

LemmyInRedditSux OP ,

Index fund. Got it.

yote_zip ,
@yote_zip@pawb.social avatar

You can actually put money into the 2023 IRA until you file taxes, not the end of the year, if that changes anything for OP

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