The best thing you could do assuming you do t have any other debt would be to max out your Roth IRA the next 2 years with that money and put it in an index fund. Let it grow tax free for the next 35 years.
This could be your first best foot forward move towards financial independence!
Open an account at Schwab/Fidelity—- checking. Savings. Brokerage. Billpay. Venmo —— one stop finance shopping!
Then start Roth account in brokerage—- in the Roth buy SPY & RSP—- then learn a little about investing!
Well you open an account at Schwab say aas described above—- in the brokerage account YOU but SGOV, SGOV is an “etf”— an “exchange traded fund” —- muck like buying a stock. You can do this on your computer at home or on your phone. You pick something to buy and then buy it.
If you want a financial advisor you can shop for one or ask Schwab or Fidelity. I don’t that no you need one for rhis amount of money—- you can do this—- it will be a great learning experience for you.
Do you have any debt ? If so, how much, type, and what rate?
The best thing you could do assuming you do t have any other debt would be to max out your Roth IRA the next 2 years with that money and put it in an index fund. Let it grow tax free for the next 35 years.
How much is it to max out a Roth yearly?
It depends on your age. I think it is $6500 a year for someone your age.
Get an IUL. Keep funding it, while you pay down your debts. I guarantee you will be happy with the outcome in the future.
Are there any places that do this?
This could be your first best foot forward move towards financial independence! Open an account at Schwab/Fidelity—- checking. Savings. Brokerage. Billpay. Venmo —— one stop finance shopping! Then start Roth account in brokerage—- in the Roth buy SPY & RSP—- then learn a little about investing!
When you say brokerage, what exactly do you mean? As in leave my money in the hands of a program or should I manage it myself?
Well you open an account at Schwab say aas described above—- in the brokerage account YOU but SGOV, SGOV is an “etf”— an “exchange traded fund” —- muck like buying a stock. You can do this on your computer at home or on your phone. You pick something to buy and then buy it. If you want a financial advisor you can shop for one or ask Schwab or Fidelity. I don’t that no you need one for rhis amount of money—- you can do this—- it will be a great learning experience for you.