Reported 2 days ago
A 40-year-old user on Reddit sought advice on saving and investing with $1,000, particularly considering options like a Roth IRA or high-yield savings account due to previous bank frustrations. Respondents emphasized the importance of establishing an emergency fund before investing, as Roth IRAs lock funds until retirement age. Once an emergency fund is in place, the user can invest in a Roth IRA and eventually open a brokerage account to access funds more readily, highlighting a step-by-step approach to building wealth later in life.
Source: YAHOO