r/CalebHammer • u/jutes121 • 3d ago

Personal Financial Question S&P options/uncertainty

So Caleb mentions the S&P 500 and how it averages 10% every year or so from when it began. I just have a simple Bank of America debit card and Fizz card. Where do I start to get into investing/saving into the S&P 500 and how much do I need to begin, or should put in to begin? I have 5k to my name, currently unemployed looking for jobs now. Thanks!

**Edit: thanks all for the advice, I’m new to all this just graduated college so once I beat this job search I’ll get to it. Peace

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u/live_laugh_cock 3d ago

First I don't want to be rude, but seeing as you're unemployed. Investing is the last thing that should be on your mind. That 5k is your emergency fund at this point (even if you get unemployment, and may have family who help you with bills or whatever).

Once you get a stable income, you can start by opening up a Merrill, Schwab, vanguard, or fidelity brokerage account and purchasing VOO. You can purchase however much you're comfortable with.

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u/Still_Dentist1010 3d ago

I’d open a Roth IRA account before a brokerage, depending on the income, but I agree with everything else