[Taylor]

Hello, I have $1,000.00 to invest in an account. Simple and not much, but it is something. Should my husband and I simply place it into a CD and have it begin to grow there?

I was told to try an S&P fund but I’m not knowledgeable of it or the process.

I am young but we want to do this right and take a step in the right direction.

[Wayne]

Good on your for taking that first step. I’d start with a high-yield savings account.

Even today, you should be able to find several offerings of about 4% APY.

Then for your next chunk of money, do some research on a solid ETF.

[Nigel]

If you’ve got any high interest short term debts use it to pay those off first.

Then some some sort of emergency fund, perhaps held in a hysa, then max whatever tax advantaged pension schemes you may be entitled to in your area then invest in s&p500.

Just my two cents. Best of luck to you both!

[Josh]

Go to vanguard and open a Roth IRA and put it in then pick the investment.

Just opening the account is 90% of the work and will be easier next time you put money in.

High yield saving are lame

[Tony]

It depends on your time horizon for the $1k. S&P could be very volatile (and drop hard) on a shorter time frame.

[Tyler]

Open Roth IRA account on Vanguard. Invest all in VTI.

[Author]

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