I've been thinking lately that I want to start investing, but don't know how. I don't make a lot of money, but I wanted to know how I can start now while I'm still young. Which apps are easy to get started? I've heard of High Yield Savings Account which I definitely want to do.
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I have both a regular and Roth 401K and at the moment that’s my only real investment — I have most in index funds and mutual funds. Just my advice but I’d stay away from Bitcoin and highly speculative assets like that. I have seen friends ruined from putting all their money into crypto. Definitely try and go for a job that offers 401K matching — your employer will contribute 3%-5% of your paycheck (but with THEIR money).
I don’t really trust investing apps but I will check out some of the ones mentioned here. I do love the Acorns app. Not for long-term investing, but it rounds up every dollar I spend and deposits the spare change. Every time I accumulate $5 it deposits, so it’s a slow build, but I don’t really miss it. I use that account as my vacation/travel account. I don’t know all the legal loopholes involved (like with Robinhood’s shady practices) so I wouldn’t put a large amount in it. It’s just a neat idea for short-term saving I think.