70K in savings account. Getting 0.05% in interest. Suggestions on how to get a better return? Mutual funds? I'm 24, already putting 10% of paycheck in 401k.

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@SM1: THANK YOU!!! People always forget about inflation loss.

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Consider some low-expense ETFs. Either buy index funds for he while market, or specific sectors you think will do well. A bias toward diversification and "high yield" stocks (those that pay large dividends regularly) will help protect your principal while still offering attractive returns.

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You're a consultant this should really be a pretty easy exercise

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How do you have 70k in savings at 24? That's impressive

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Ally online bank. 1% interest

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You should move your savings ASAP to Ally Bank to get 1% interest on your savings. From there, i recommend keeping an emergency fund in ally and put the rest in a mutual fund.

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I'm not putting money in the market right now outside of my 401k right now. It's long overdue for a correction, stimulus won't last forever so it's not a matter of if but when.

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ETF's if you don't wanna be an active investor.

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Betterment!

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1% return is not no risk. You are slowly losing purchasing power.

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@Deloitte2 timing the market is foolish

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AMZN

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Real estate

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Why aren't you maxing out your 401k contribution?

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Buy a sailboat

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In the same situation. Is it smart to keep 70k liquid in savings with no risk and 1% return? Or put 50k in etf / mutual funds with risk?

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A3 - Depends on whether you'll need that cash in the near future for student loans, house down payment, medical expenses, etc. I say put half liquid cash in savings, other half in ETF

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Invest in trump inc.

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I know a guy....

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I echo to put it in a higher yield savings, personally am happy with ally. Next, have you maxed out your Roth IRA? After that, etfs or index funds if you aren't planning to buy a home or other large capital expenses in the next couple of years. But I'd expect the markets to dip after the election temporarily, and that will be the time to buy.

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$70k cash is totally unnecessary. Calculate what u spend in 4-6 months (don't include savings, payments beyond minimum etc. ) and keep that in cash for emergency. Don't touch that cash . The rest should go in ETFs or real estate. Don't put more in 401k. Good job saving, btw.

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