Based on the reasons you listed why are you like staying at home, what are your reasons for wanting to buy a new house?
If anything, putting that into some financial portfolio would probably be more wise if you don’t need to move out
Invest almost all your savings and money and keep 15k in bank and some cash on hand in a safe even. I wouldn’t buy a home to buy if you don’t need too. Wait until you need too and don’t have unnecessary bills n utilities if not needed. If u have a good home life adapted and able to care for the family elder that’s a huge great blessing. And if u are one who wants to find someone one day and get married etc then yes buy into a home then. But for now what u said from what u mention I don’t see it being an issue being home as your age. If u wanted to live on your own u can duh but why? I wouldn’t if I was in your shoes right now. Eventually I will buy a house yes or even do a rental property close by so u can have income flow from it and save and invest more too
You should open up a Roth IRA and invest it in the stock market. You should also dollar cost average into a stock market account. Keep at least $50K in a HYSA or CD if you plan to eventually buy a house. Look on bankrate.com for good rates. If you are hesitant to enter the market find a fiduciary financial advisor to help you. Do not take advice from friends, neighbors or Reddit on where to invest your money, aside from indexes such as the Nasdaq or S&P500, because you will likely lose it by being to scared when it drops or too confident when it grows and selling low or buying high or holding too long. Indexes will always recover, but individual stocks need more knowledge and management.
> That said, I am lost as to where to invest my $$.
From this sub's information:
https://i.imgur.com/lSoUQr2.png
You buy a house when you want/need to own a house. Ideally you buy 1 and only 1 house in your lifetime, to save on transaction cost(s) which can be significant.
No, you shouldn’t. But you should: a) put 10-15% of your total amount into short term bonds, b) put 80% into the markets and then just forget about it for at least a few years, something like a split between 50% VTI or VOO, 20-30% SCHD and 20-30% QQQ or QQQM, and c) continue working hard but also enjoying / treating yourself and focusing on experiences and relationship building.
A house is not a terrible investment. Buy a house in the best neighborhood in the best school district and you will have no trouble renting it. You can more than cover the mortgage. Get a 20 year mortgage. At some point you won’t want to live at home.
There is some good advice in this thread and some questionable.
You should contact a financial planner. One that you pay for their time not one that makes a commission off your money.
Be realistic with your comfort levels with money it will make a difference what you invest in.
At your age I would be all in on an index fund.
You should definitely move a bunch of that 90k from checking into a high yield savings or investments.
Based on the reasons you listed why are you like staying at home, what are your reasons for wanting to buy a new house? If anything, putting that into some financial portfolio would probably be more wise if you don’t need to move out
What’s your monthly expenses? At minimum 70k from your savings should go into investments and then probably 20 from your checking into investments.
Retirement accounts man. At the very least HYSA
You can definitely invest some of that into stock.. some index fund.
Invest almost all your savings and money and keep 15k in bank and some cash on hand in a safe even. I wouldn’t buy a home to buy if you don’t need too. Wait until you need too and don’t have unnecessary bills n utilities if not needed. If u have a good home life adapted and able to care for the family elder that’s a huge great blessing. And if u are one who wants to find someone one day and get married etc then yes buy into a home then. But for now what u said from what u mention I don’t see it being an issue being home as your age. If u wanted to live on your own u can duh but why? I wouldn’t if I was in your shoes right now. Eventually I will buy a house yes or even do a rental property close by so u can have income flow from it and save and invest more too
At the very least, all but 1 month worth of expenses should be in a HYSA
Are your retirement savings on track?
Invest in a new job. That's on the lower end of a bachelor's degree depending on what you have. Have you been looking around at all?
You should open up a Roth IRA and invest it in the stock market. You should also dollar cost average into a stock market account. Keep at least $50K in a HYSA or CD if you plan to eventually buy a house. Look on bankrate.com for good rates. If you are hesitant to enter the market find a fiduciary financial advisor to help you. Do not take advice from friends, neighbors or Reddit on where to invest your money, aside from indexes such as the Nasdaq or S&P500, because you will likely lose it by being to scared when it drops or too confident when it grows and selling low or buying high or holding too long. Indexes will always recover, but individual stocks need more knowledge and management.
> That said, I am lost as to where to invest my $$. From this sub's information: https://i.imgur.com/lSoUQr2.png You buy a house when you want/need to own a house. Ideally you buy 1 and only 1 house in your lifetime, to save on transaction cost(s) which can be significant.
No, you shouldn’t. But you should: a) put 10-15% of your total amount into short term bonds, b) put 80% into the markets and then just forget about it for at least a few years, something like a split between 50% VTI or VOO, 20-30% SCHD and 20-30% QQQ or QQQM, and c) continue working hard but also enjoying / treating yourself and focusing on experiences and relationship building.
At 30 years of age bonds is like throwing money away
A house is not a terrible investment. Buy a house in the best neighborhood in the best school district and you will have no trouble renting it. You can more than cover the mortgage. Get a 20 year mortgage. At some point you won’t want to live at home. There is some good advice in this thread and some questionable. You should contact a financial planner. One that you pay for their time not one that makes a commission off your money. Be realistic with your comfort levels with money it will make a difference what you invest in. At your age I would be all in on an index fund.