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Close the robo advisor account and move that money to a taxable brokerage raccoons (assuming you’ve maxed out Roth IRA). If you’ve got an hsa, try to max it out, if you’ve got 401k, try to contribute to your employer march and then a little more if you can. In the taxable brokerage account, buy low cost index funds. Take some of the cash you have and go to treasurydirect and buy $10k of the series I bonds that are paying 7.12% and then on January 1 go buy another $10k if you can. Go research everything i just said too so you have an understanding of the various implications each has.
Depends, do you have fidelity or vanguard or another one of the big managers? They each have pretty much the same products but with different names. For vanguard, vTSAX is a good one, not sure what the fidelity equivalent is called but I’d go research that yourself. If you’re in your twenties you have plenty of time so I’d probably go all stocks (at least that’s what I’d do). When reviewing mutual funds, make sure you see what the expense ratio is on each.
Chief
Is the $15k in “retirement savings fund” in a 401k or IRA?
I don’t currently own my home and have never really thought of buying one. I think I would have to take out a loan for 1M to buy a 2Bed 1Bath in my city/neighborhood and I think I can’t really afford that. I’ve been thinking of buying a house in other countries (where family lives) where I can get a decent house for 300-400k. Just feels weird putting all my money into one asset.
For the rest, when you say ‘high yield savings’ - what does this mean? A cash account? That would not be high yield though, right?
Am currently looking up some good ETFs to invest in for the rest of the money.
Thanks for the great advice!
Either ETFs/Mutual funds, real estate, art/collectibles (more knowledge specific), or precious metals. When the market is going up, ETFs usually have a better return than mutual funds, but in a downturn, mutual funds will be able to cut bigger losses resulting in better return.