Totally clueless with investing, $100k sitting in the bank earning 0.05%. How do I get started? Please advise. (lemmy.world)

submitted 2 weeks ago by [email protected] to c/[email protected]

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I have been putting part of my paycheck into a high yield savings account, but haven't bothered with investing it in a responsible manner partially due a fear of losing the money due to bad investments. I'm finally realizing how much potential money I've lost by letting my money stagnate. Please advise me on how to responsibly invest my money, thanks!

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[-] [email protected] 2 points 1 week ago

I'm in the US, but on a work visa. I have a 2.875% mortgage, and a 2% car loan that ends soon (but planning to get a second car). We would mostly need the money in the next 5 years, so I'll start with the hysa and go from there. By the way, is it prudent to take a small portion of it and invest it in more daring ventures like stocks?

[-] [email protected] 4 points 1 week ago

I wouldn't invest anything you need in the next 5 years. I'd stick it in a HYSA or Treasure Bills (if you're in a state with high income tax) or something instead.

this post was submitted on 05 Sep 2024

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