Personal Finance

3856 readers

4 users here now

Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Join our community, read the PF Wiki, and get on top of your finances!

Note: This community is not region centric, so if you are posting anything specific to a certain region, kindly specify that in the title (something like [USA], [EU], [AUS] etc.)

founded 2 years ago

MODERATORS

[email protected]

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

submitted 3 months ago by nieceandtows to c/[email protected]

43 comments fedilink hide all child comments

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!

you are viewing a single comment's thread
view the rest of the comments

[–] jeffw 1 points 3 months ago* (last edited 3 months ago) (1 children)

If you have a HYS, there is no reason to have 100k in an account earning .05%.

Like others have said, everything else depends on your risk tolerance. If you’re young, you should have more in higher risk stuff (stocks, etc.). Even if you have a big loss, you can earn it back.

Whatever you don’t need liquid and whatever isn’t in high-risk investments can go into stuff like bonds and CDs

[–] [email protected] 1 points 3 months ago (1 children)

Who do you recommend for High Yield Savings?