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An index that either tracks the top 500 companies or the total market. Look up a 3-fund portfolio if you want to go a little deeper.
Alternatively, max out an IRA if you haven't already this year and are in a position where you won't need that money until retirement.
VT. Don’t gamble on single stocks. But since capitalism rules and all of congress owns stocks, you can be fairly confident the market will go up in the long term 10+ years horizon. And compound interest does miracles.
Venmo me
But how do we know that you are use it for drugs and hookers and not just some nonsense?
Damn you got me I was gonna be an idiot and put it in an IRA
With zero information on your situation, it's difficult to say. If you have debt, paying that down/off is generally priority one. If you are debt-free, then you have options. Your age, stability, goals, and other factors would generally dictate what type of action to take. Were it me (early 40s, very low interest rate home loan), I'd put it into an index fund where I've already got some investments. In my case, I'm investing for retirement in about 25-30 years (as if I'll be able to do that, but one can hope).
Don't disagree about stuffing it in VTI... But, be aware that things can go up and down, so don't obsess over the value one you put it in. It's long term so it should go up over long term, but they're can be months sheets it goes down and even a year where it doesn't do well
I like roboinvester accounts. You put money in, it automatically invests in stocks for you based on your current age and risk tolerance (which you can change whenever you like). I particularly like Wealthfront, and their app/website are really good. They’ll manage $10-15k for free, and then above that you pay a small fee out of your earnings for their service. If you use someone’s sign-up link, they’ll bump your managed amount by $5k. Comment back if you’re interested and I can share mine. Good luck with your investment, whatever you choose!
Give it to me
Pay down your debts first.
pay off high interest debt
top off your emergency fund so you don’t run into expensive short-on-money situations
take care of deferred maintenance on your car or house that might turn into an expensive repair
If you have an employer sponsored 401k, increase the contribution amount to get 10k more tax free into it before the end of the year and use the $10k cash in hand for expenses.
Open a roth IRA and contribute the maximum amount you can (which may vary based on your income)
VT, VTI, and SPY are good broad-market funds with good historical growth.
If you qualify for the savers credit you should put $2k into retirement like a an IRA.
I like these points. Preventing a future expense by paying less now is always worth it, if you can afford it.
That depends, how far in the future, how big of an expense, how much interest can you earn, and what's inflation looking like?
If it's more than a couple thousand dollars more than a couple years out, you could possibly make useful money with a high interest bearing account provided inflation is expected to be less than about 2/3 of the interest rate of the account.
Time IS money.
This might make sense for people with six+ figures sitting in a savings account, but the average person today doesn't have enough cash to think about earning interest on it. For them, paying off a debt now would be cheaper in the long run. For the most part, at least.
So from what I've read after viewing this thread, I make a vanguard account, either get a money market fund or a brokered CD, put the money in, let it sit for awhile, and then profit years down the line?
Money market or CD is going to have terrible return. You will be lucky to match inflation. Get a low overhead SP 500 index fund. By low overhead I'm taking .15% or less. You should be able to find .125% with a bit of poking around.
5% is terrible? I have 13k in a 9 month CD at 5%
Almost a year and I get like $600, doesn't seem so great to me but there's no risk either I guess :/
SPY returns an average 12%
Low risk but inflation is above 3% so you are looking at less than 2% effective granted it's a fairly safe investment.
Vanguard S&P 500 fund.
This. Alternatively, 401K depending on a variety of factors.