Have some money to invest, what to do

[Triton420]

I don't know much about investing, funds or what to do with some money I have laying around. But it sitting in a bank account gaining no interest is pointless. So any advice or input is appreciated.
I'm 28, own a house, have zero credit card debt and no other loans. My only debt actually is my house. I have anywhere from 10-15K I could easily invest without even noticing the money is gone. Now would it be for retirement, or something I want to grow in the next 10-15 or so years I don't know.

So my question is, what would you all do with 10-15K. Throw it in a vanguard account or what?

[Bsktball55]

That's what I would do. Do you have a retirement account set up? I currently have my money in Vanguard health and Vanguard technology funds which both have been doing pretty well up until the past week or two.

[Joe4d]

A basic, " I retire in X years" mutual fund account.

[FishinSkinny]

my opinion.. your thinking too small. I'm 34 and have holdings in both wall st and real estate. If you have the ability I would rent out your spare bedroom. Payoff your residence in 3 years with every penny you have. Make a personal rule to stop borrowing long term money.. Then start looking for a multi family property. Start looking to buy when you approach 75% money down mark. Real estate is a heck of a good place to put money for the long term IF you pay cash or close to cash. Real estate is HARD WORK. Wall st is a good place if you want passive investments. Just DCA the spy, sso, Upro and make money. I prefer real estate over wall st but I make about 2.5 to 1 dollar to dollar with wall st. Best of luck!

[Bamaman]

Does your employer offer a 401K with partial matching. That's usually first priority. After that, it's a Roth IRA until it hurts. Third is to live below your means even if that means driving used cars and paying for toys cash.

As far as where to put the money, I would be investing into an ETF (Exchange Traded Fund) which is essentially an index fund of index funds. Their service charges are very, very low which matters over the long term.

Let me just say that building a retirement portfolio requires some reading. There's a balance of risk and reward. But starting a retirement portfolio is tough for someone at your age with the stock market close to an all time high.

You're right in addressing this issue, as your biggest asset is the time you have to invest--especially with compounding.

[Triton420]

I have a 401k that I currently pay 7% into and my employer matches. But, I am leaving and starting a job somewhere else that does not offer a 401k yet but I will be making a good bit more money. Boat has been paid off for years and so is my truck so there won’t be any spending money on toys for a longgg time. So I should be looking at mutual funds. I do want to buy another house eventually but that will be after I can afford it a little easier and prices come down a little. I’m in Orlando and everything has gone way up. My home value is double what I owe on it right now and I’ve only had it for 5 years. Currently rent out my extra room to someone and that pays for all my food and gas cash every month.

[Triton420]

I remember seeing something about investing in real estate but it’s something where you put X amount in on a property and other people do the same. Then you get a percentage in return. Don’t know if it was BS or a scam but I really can’t remember what the whole idea was. Just something I could possibly do until I can realistically buy a second property.

[Corkpuller]

I don't know shit from wild honey about investing.
You seem to have a pretty good head on your shoulders for a young man, so I feel like lending a bit of advice, per my personal opinion.
Don't f'k it up by trusting ANY one to be a partner with your money.
Roth IRA for YOU, and forget about it.

[boneil]

I would start a roth ira. Contribute every month and throw that money into some growth funds. And be thankful for every pullback in the market

[IMhooked]

Triton, Do you have an emergency fund of 3-6 months of expenses yet? You know, Granny's rainy day fund (it's not if it will rain, it's a matter of when). If you've got that squared away a good rule of wealth building is to put 15% of your income each time you receive a check into retirement. You have a great thing going at your current employer with a match BUT you sound like you're changing jobs and moving up in income. Good for you!. You'll want to do a direct Rollover of that money and if your new employer doesn't have a 401k then rolling it into an IRA is a good place to park it. There are buckets of retirement to learn more about for your unique situation and what your short/long term goals are (are you going to get married? Plan on kids? When do you want to move up in house?). Another thing to consider if you are currently single is to look at what your upcoming employer is offering for health insurance. If they have a high deductible option and you can qualify for a HSA (Health Savings Plan) you can use that bucket to defer some more of your tax basis (if you're single, healthy, and historically up to this point don't visit the doctor for more than routine check ups) by putting in $3450 (max amount). Inside these 401Ks, IRAs, and HSAs you can have brokerage accounts and invest in stocks, bonds, ETF's, index funds, etc.). Learn about these and figure out your risk tolerance and invest money in what you're comfortable with. Starting young, being debt free, paying for things in cash, you're set up to win man! Good for you!

[Ruger04]

Buy some gold and silver if you don't have some already,they are very liquid and out of favor making now a good time to buy looking out over the next few years .

[BoilermakerRT178]

Does your employer offer a 401K with partial matching. That's usually first priority. After that, it's a Roth IRA until it hurts. Third is to live below your means even if that means driving used cars and paying for toys cash.

As far as where to put the money, I would be investing into an ETF (Exchange Traded Fund) which is essentially an index fund of index funds. Their service charges are very, very low which matters over the long term.

Let me just say that building a retirement portfolio requires some reading. There's a balance of risk and reward. But starting a retirement portfolio is tough for someone at your age with the stock market close to an all time high.

You're right in addressing this issue, as your biggest asset is the time you have to invest--especially with compounding.

solid advice here.

I would familiarize yourself with Vanguard and their offerings. If you are afraid of the market being at all time high you could invest in increments so you walk into the market rather than go all in. Just be careful it’s damn near impossible to time the market.

Now is the time to save as much as you can and take some risks as time (to recover market swoons or mistakes) is on your side. Focus on tax advantaged accounts but have a strategy for after tax investments as well. Especially if you hope to retire early. Start with a base of SP500 index or total market funds. Then add asset classes to take on more or less risk.

Good luck!

[GROD]

I’d buy 2 bitcoins and sit on it....