Want to start collecting comics but the sheer volume of Marvel and DC titles is overwhelming. Is it better to collect individual issues or wait for trade paperbacks? And is there money in modern comics or just vintage stuff?

Budget is maybe $30-40/month. What should I be reading/collecting?

For reading: trade paperbacks. For collecting/investment: individual first printings of key issues. They're different goals with different strategies.

Ultimate Spider-Man #1 just came out and it's excellent. Brian Michael Bendis is reinventing Spider-Man for a new generation. Grab first prints while they're cover price.

The key to comic investing is buying what people will be nostalgic for in 20 years. Anything that's huge right now will hold value. First appearances are always the best bet.