My limited experience is that for day-to-day freshwater fishing, the rod and line (backing to tippet) are critical, and that is where you should spend your money and be very picky. The reel is less important and it serves mostly to balance the rod, then to manage the line. Saltwater and huge fish are a different story.
Also, fast action may be a benefit, but don't discount medium action rods - especially as a beginner... they can be sweet to fish with.
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