There is no easy answer to this as it depends on a multitude of factors.
1) How savy are you in the area of investing?
How much do you exactly know about investing- any knowledge on ETFs, indices, stock and how they work? Have you tried a dummy portfolio before to see how your portfolio could possibly perform without putting any actual money in it?
2) Could you afford to lose more than half of your 10k?
Most investors make many mistakes at the beginning of their investing journet and there is a high chance you might see a paper loss of more than half of your portfolio if you are investing in riskier assests without proper balancing of your portfolio? Is there something you could live with? Will your future plans be derailed if you do not have this 10k?
At the age of 20, you have a valuable asset that many other investors do not have- time. Time allows for excellent compounding effects. A portfolio which compound at 7% will double in a little over 10 years. This asset will be incredibily valuable if you have the right investing knowledge and hence your answer to qn (1) is important. If you do not have any basic knowledge of investing, I would suggest to go with a dummy portfolio first. In the meantime, save up and begin investing again when you are more ready.
Of course, if you are already savy in the area of investing, go ahead and enjoy the effects of compounding for your portfolio. Warren Buffett bought his first stock at age of 11 and the reason why he is so rich now is because of the compound effects over the few decades. Good luck!
There is no easy answer to this as it depends on a multitude of factors.
1) How savy are you in the area of investing?
How much do you exactly know about investing- any knowledge on ETFs, indices, stock and how they work? Have you tried a dummy portfolio before to see how your portfolio could possibly perform without putting any actual money in it?
2) Could you afford to lose more than half of your 10k?
Most investors make many mistakes at the beginning of their investing journet and there is a high chance you might see a paper loss of more than half of your portfolio if you are investing in riskier assests without proper balancing of your portfolio? Is there something you could live with? Will your future plans be derailed if you do not have this 10k?
At the age of 20, you have a valuable asset that many other investors do not have- time. Time allows for excellent compounding effects. A portfolio which compound at 7% will double in a little over 10 years. This asset will be incredibily valuable if you have the right investing knowledge and hence your answer to qn (1) is important. If you do not have any basic knowledge of investing, I would suggest to go with a dummy portfolio first. In the meantime, save up and begin investing again when you are more ready.
Of course, if you are already savy in the area of investing, go ahead and enjoy the effects of compounding for your portfolio. Warren Buffett bought his first stock at age of 11 and the reason why he is so rich now is because of the compound effects over the few decades. Good luck!