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Robinhood has become a go-to platform for investors looking for an affordable way to expand and oversee their wealth mainly because of its commission-free trading and lower fees. The platform offers access to stocks, ETFs and dividends.
One Reddit user, a 23-year-old military member, recently shared his investing journey on the r/dividends community, starting a thread that received mixed advice on the best investments for retirement financial freedom.
The soldier opened a Robinhood account just two months ago and has already acquired 39.99 shares of SCHD and 17.77 shares of Realty Income (O).
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He aims to build a dividend-producing nest egg to supplement his military benefits, including a Roth TSP, to which he contributes 10% of his salary and receives a 5% match.
“I plan on using this Robinhood account to build up a nice dividend-producing nest egg. I opened the account about 2 months ago. I plan on maxing it out in 2025 pretty quickly. My main retirement account is my Roth TSP through the military. I contribute 10% + get a 5% match. This Robinhood will be used for leftover money,” he said.
He has 16 years left to serve in the military and plans to retire at 38 with a pension, VA benefits and several income streams. As he puts it, “I really want work to be an option when I turn 38.”
But he is seeking guidance on what steps to take now to ensure his goals become reality, so he posted on Reddit asking investors for advice.
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Let’s breakdown Reddit’s r/dividends community recommendations for the 23-year-old military man’s portfolio.
Reddit’s Advice on Best Investments to Achieve Financial Freedom
Focus on Growth Instead of Dividends For Now
Many Redditors from the community suggested that at 23, the investor should focus on growth-focused stocks like VOO or VTI instead of dividend-focused stocks because growth stocks offer higher long-term returns.
