I’m a college student, soon to graduate and working at a company as an intern this summer. They’ve offered for us to enroll in a 401k plan where they have a pretty good matching rate, and since there’s a decent chance I might be able to return to work here full time, I’d like to start that up.
The issue is, until there’s $10k in an individual’s account, one is not allowed to go and select their own stocks or specific funds to invest in. They do, however, give us the option of selecting from their different index and growth funds. For example, this one is probably the best I’ve found in terms of its holdings being Sharia compliant, but still there’s a good portion of them that are not:
I’m just looking for general advice on how to go about this, is the best option to go through all the holdings and just mark off percentages and do all the math to figure out how much might need to be purified? Are there other components that impact the permissibility of investing in a growth fund like the one I’ve listed? And should I divide up into a couple different funds they’re offering, or just put 100% into the one that’s the “most Sharia compliant?” As of right now my intention is to invest mostly into this fund I’ve linked above and once I hit $10k, to switch into Islamic ETF’s if possible.
I’d appreciate any thoughts or resources on the subject, jazakAllahu khayran!