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

[–] nieceandtows 2 points 3 months ago (1 children)

Thank you, I'll look into money market and CDs

[–] tee900 3 points 3 months ago

Its important to be taking advantage of tax deferred savings btw. I just assumed these funds are all taxable savings and that you are already contributing to your retirement and health savings.

Simply investing your savings without putting money into iras/401ks/hsas would be a huge mistake in the long term.