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[quote=Anonymous]Don’t pick individual stocks if you’re just starting out.  Pick a low cost, total stock market fund.

Do you have a $1000 saved in an emergency fund? At least save that first just in a high interest money market or savings account.

Once you get to $1000, aim for three months of living expenses.

Once you have that, start paying off debts that are higher than market rate interest so anything that is more than 5% interest right now, pay off all those debts.

Once you have that, start saving in your 401(k) or 403B if you have that, at least up to the employer match. Just pick a year based fund like retirement 2050, or something that covers a broad swath of the market. Not an individual stock.

Once you have that, start your other retirement savings account stuff. Open a Roth IRA with Vanguard or Fidelity and buy a very low cost total stock market fund. VTSMX is one symbol.

The reason you want this is, it is the safest return for the biggest amount of return.  Because it covers the total stock market, it grows with the value of the total stock market. You really only need one fund.

Then automate your savings into that ROTH account. So every month, add as much as you can like $200 a month or whatever.[/quote]

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