I (19M) got $280 for my birthday and want to invest all of it in the stock market. I currently have $110 in a Roth IRA and just under $400 in a personal investing account. What should I do with the $280? I’m also a college student who will have a lot of debt in the future.
ChatGPT tells me to: Put most of the $280 into your Roth IRA in a broad index fund like VTI (Total Market) or VOO (S&P 500), and use a small portion for 5 individual stocks across different sectors, for example:
Apple (AAPL), Microsoft (MSFT), Amazon (AMZN), JPMorgan Chase (JPM), UnitedHealth (UNH).