And watch it - daily or weekly - don't assume that everything is okay. If you don't like an investment choice - don't assume it will bounce back. And don't be afraid of taking profits either. Buy and hold isn't always the best policy.
Hi Daniel, you might want to consider large cap company like B suggested in addition to VOE and VFINX. For example, CVX is up 115% in the last 5 years and Micron (MU) is up 365% http://american-ticker.com/finance/perfo... But if you want smaller companies to invest, Diamondback Energy (FANG) is up 379%. Of course past returns isn't a predictor of future results.
Great start!
Go to assetbuilder.com. Read about Couch Potato Portfolio.
you should diversify out of mid cap (VOE) and the VFINX by getting into other areas: look at the charts for IBB, BIIB, REGN for advanced drug companies, and also consider stocks which increase their dividends every year like WMT, PG. You might also consider some oil stocks like CVX
Extra: I also am going into college as a freshman, so I want to have some money saved for when I am finished with college!
I have been working for the past 3 years, and I finally want to put my money towards good use. I have over $22,000 saved up, and I recently opened an online brokerage account.
So far, I invested $3,000 in (VFINX), and I bought 6 shares or ~$525 in (VOE). What else should I do to broaden my portfolio? I am looking for long term so I can retire early!
Am I on the right path?
Thanks!