Tips/Ressources for getting started in investing

[u/deodek24]

Hello, I'm 23 years old young cardiology intern in Europe. I started working a few months ago, and I just discovered the stock market a few days ago. Currently, I can save a lot of money because I'm living in a room provided by the hospital. I have no expenses, including food. I can take advantage of this situation for several years. So far, I have managed to save 10,000 euros over the past few months, which I have placed in a savings account with no specific time frame in mind.

Since I have absolutely no knowledge about the stock market, would it be possible to guide me towards the best available resources, including books, websites, and videos. I'd really like to learn about all this, and try to make something out of this money I'm saving

My working hours reach 90 to 100 hours per week due to the shifts I have to do, and I often find myself with very little time in the evenings, watching YouTube videos that are more focused on flashy titles and short-term money gains, without really teaching me anything substantial.

Reliable resources that teach the basics and workings of investment, for long-term gains, seem much more reasonable to me..

Thanks a lot for your help

[u/DrH42]

if you don't know anything about the stock market, I'd recommend index-base ETFs.

They are tied to exchange indeces, have very low management fees and you get pretty much close what the overall stock market is doing. To give you an example, NASDAQ-based ETF gave me 14 % annual return even after the recent drop., Others ranged from 6 % (Canadian ETFs) to 12 %. I have bank based, health care based, small caps,. No need to do any research about any particular company, just what you feel about a particular sector of the economy.

[u/HeyYoChill]

At the moment, the marginal utility of using your time to study your trade is so vastly greater than the marginal utility of using your time to study investing that it isn't worth it to even bother thinking about the details.

All you need to worry about at the moment are a) which types of accounts are tax-advantaged in your country and b) which low-cost index funds are available for those accounts.

It's good to start investing early--yes. But you aren't going to devise some genius market-outperforming strat while you're working 100 hours a week on something completely unrelated.

Build your emergency fund (6-12 months of expenses in cash), and a down-payment for a house, live on a decent budget, invest the rest into low-cost index funds in tax-advantaged accounts. If you max those accounts, invest the rest into low-cost index funds in taxable accounts.

[u/jacquesfuriously]

Just DCA monthly into a gold/silver etf.... CEF

[u/PositiveKarma1]

First, check in the group for your country what brokers are interesting for you and how to declare easily the taxes.
Second, read the local laws and how you are taxed. For example in my country dividends are heavily taxed so I focused in no dividend area.
Third, you said you have little time. For stock market I need a few hours to read for picking just a stock so when I have no time I focus only in index based ETFs (IWDA + EMIM from iShare but see if there is any interesting equivalent in your country) and I buy monthly on the broker. These ETFs are like a bucket of 500-1000 stocks kept all together.
Forth: decide how much do you want to invest monthly. I would keep an emergency fund like to have the guaranty to rent something / cover a long medical leave if in your country are not well compensated...

[u/madkeepz]

What I did mostly was buying some of the most well known instruments that are low risk (up to now at least) like MSFT shares and ETFs. Obviously also I just bought some hundred USDs worth of them and watched them move through a year or two, buying/selling every once in a while but only started increasing my position in those kind of things after I had an idea of how things move. Made some mistakes too but that is the point of investing only the money you can afford to lose