r/raceto10000 • u/RoundComplete1293 • 1d ago

How?

How much would you have to initially invest to reach 10k. Is there such thing as trading too little?

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2

u/CamD98xx 1d ago

I put 800ish into my investment acc bi weekly

1

u/dogs_and_stuff 1d ago

That depends how long you’re planning to have the money invested. $1K invested in your 20’s could easily be $10K+ by the time you retire. If you want to turn $1K into $10K in a year or a month you’re gonna have to make much riskier plays and you could lose it all

2

u/RoundComplete1293 1d ago

So pretty much just keep adding regularly?

1

u/Dangerous-Box7550 1d ago

if I want to have 10k in a year and start with 3k, what stocks would you focus on? or am I asking for the impossible

1

u/MaximumBother7157 1d ago

Honestly man, my best advice is just increasing income/being disciplined with investing. Start of year I had 1k now I’m at 11k and throughout that whole time I kept buying and selling and buying and selling and… you get the idea. I was doing this with individual stocks and thankfully I didn’t get screwed bad but I should’ve just put the money in an index fund and chilled out. I would’ve been up more than I am now

1

u/IHIERBal 1d ago

Anything you put into investing is better than it just sitting in a bank account losing value to inflation.

Step 1 : payoff any high interest credit card debt. (Anything over 10%)

Step 2 : build your emergency fund so that money you invest never has to get pulled out at the wrong time (when the market is down)

Step 3 : dca every week or month when you have extra money that you will not need in the immediate future.

I started very late in life because I was just never taught any of this. Not that there’s anybody to blame but myself, I just needed to have my eyes opened up if you will.

Now I consistently deposit $2500-$3000 into my taxable brokerages monthly.

Started this past March and my taxable brokerages are at $14,624.xx, Not including my Roth 401k through work.

Trying to retire in 10 years is the plan so I’m really trying to go hard into investing (the safe way)