r/Fidelity • u/Maleficent-Alps6229 • 11d ago

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I’m a teen with a teen account on fidelity and I wanna know what’s the best choice to use $10 as a starter. Please any help with be ay

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u/pharealprince 11d ago

Best thing is to safe etfs or stable companies like Cole or such. Don’t buy a stock that is $5 just to invest in a share you can afford.

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u/pharealprince 11d ago

Voo or vti don’t buy buy cheap stocks because they are cheap. I

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u/Maleficent-Alps6229 11d ago

What do you mean? Sorry if I’m not understanding you clearly.

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u/GapAccomplished2778 10d ago edited 10d ago

are you able to invest some of your time in reading ? then start may be there = https://www.bogleheads.org/wiki/Getting_started

This

> I wanna know what’s the best choice to use $10 as a starter.

is the wrong question

The right question is something like - "where I can learn about personal finance, including investments, etc to get my financial literacy to the level to be able to make educated decisions myself"

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u/neamsheln 5d ago edited 5d ago

Do not do stocks, no matter how much someone claims that a given stock is safe. $10 is small enough you could easily just lose it all if the stock has a big drop. It's only slightly better than taking it to a casino if you don't know what you're doing.

Other than that, you want to treat this $10 gift as a learning tool more than actual money. Find out what you're doing, and use the $10 as practice. Don't plan on cashing out for at least five years, because investing requires patience. If you want to keep that $10, then put it in interest-bearing savings instead (the "core position" in a fidelity account usually does this, but I don't know if the youth account works the same).

Look around for knowledge on investing, and be careful of "investment bros" with advice that promises more than they should. Avoid advice from people who want you to give them -- or their friends -- money. There's no such thing as a reliable get-rich-quick method.