Hello! I’m still newer to investing, don’t know what I’m doing, and would love some general tips. I’ve only ever put money into SPY (over the past 3 ish years) and currently have a little under $10K in that ETF. Sometimes I’ll buy a whole share, but mostly I just do “dollar cost averaging” and put in like $50-$200 bucks a week (don’t know if that’s even the best thing to do, but from some browsing through subreddits just now I saw people advising against this approach for ETFs?).
I want to be smarter about how I approach this. Should I continue putting money in SPY, or take on a new ETF like VOO? Is it worth putting some money toward QQQ? I’m not a super risky person and just want to have money steadily grow over my life. I have a retirement plan I already put around 22% of my monthly income in, as well as a HSA (need to get better with that) and a HYSA.
Any advice on what to do? Or tips on how to better go about investing in ETFs? Should I maybe just buy a share per month of one/some, or is the dollar cost averaging method ok?
I’m 25 btw if that helps with your advice! Thank you!!