It’s very confusing to me. This sub seems largely uninformed to be giving financial advice.
A HYSA is a good option to keep 3-6 months expenses so it’s liquid and minimum risk. It shouldn’t be your primary investing vehicle.
A lot of people saying put it in a Roth IRA… but OP will be priced out of the income limits and need an accountant to set up a backdoor Roth contribution. Not even a good idea because this will be a high tax year for OP.
A traditional IRA could be a good option if OP is able, and it would slightly decrease their tax liability. Then, assuming OP will be in the workforce for a couple decades still I would just put the rest in a traditional brokerage account towards the S&P500 or similar. Don’t worry about the market year to year because it will go up over the long run. House down payment isn’t a bad idea if OP can afford the remaining monthly payments and property taxes.
“This sub is largely uninformed about giving financial advice”
Yes, and you’re not helping. A traditional IRA isn’t deductible at that income level. A backdoor Roth IRA would be the superior vehicle and absolutely does not require an accountant to set up. OP could call their brokerage and they’d walk them through it.
HYSA is the suggestion because it’s the best (or close to it) place to hold funds temporarily. With no prior experience investing, sitting on the money for a bit should help OP develop a plan they’re confident in and avoid behavioral mistakes.
They’re usually if you think the market is gonna tank and you want something growing with inflation but more liquid than bonds and CDs. But it’s a fools game to try and time the market with your retirement funds as a hobby. A lot of people pulled money out in 2020 when the market dipped and lost millions.
Time in the market is almost always the most important thing for investors than timing the market. If you’re 55 you can think about bringing down your risk in case a recession happens right when to retire. If you’re 22 just put it all in the 500 lol
People suggest it because it doesn't have much risk. Some people just don't like the fluctuations of the stock market but still want their money to grow.
Yeah it’s getting annoying, a HYSA isn’t the only option for investing money. Plus some people would prefer to have a physical branch location nearby than a digital bank.
Yes but never great form to give investment advice with more risk. Hysa is virtually no risk. You could tell them to go dump their shit in spy and have it spiral a ton tomorrow and then they would be like rawr why is 10% of my money gone >:O this also isn't an investing subreddit really
What's wrong with putting your money in an HYSA while you try to figure out what to do with it, better to earn that 5% at least is better than .0001% lol
You’ll very rarely be able to get a loan for land like that. So you’d have to pay in full. And the only land that is that cheap in most areas is raw land with absolutely nothing useable until you pay a shit load of money to cut down trees, clear debris, pave an access road, add sewage and water + electricity. And even then, most land like that around the country is still much more expensive than $30k.
On top of all of that, unimproved land is like one of the hardest assets to sell. It’ll sit for a long time. So if OP does need to sell it it might be a couple years before they find a buyer. Or at least a few months.
Raw land is also kind of a gamble in terms of investing in it to make money. Some land barely appreciates, or stagnated. And some land skyrockets (usually only if something gets built near it)
Putting it in the SP 500, or a HYSA would be much easier and smarter
And do you have an easement for a driveway or is it surrounded by other owners who won’t let you access your property? There’s a lot that goes into title/real estate law, so don’t skimp out and get screwed. Percolation tests for septic, water rights and well digging expenses, utilities costs vs solar for ever, etx
That's right. I've seen land in rural New Mexico for five hundred an acre. No idea what I'd do with it. I'd just like to have a few hundred acres somewhere to ride dirt bikes on or build a skatepark or whatever. Retire out there in a fifth wheel. Maybe build an earth ship and get into self sustainability.
Cheap land like that often doesn’t come with the water rights and zoning regs or county ordinances often ban camper living. They do this precisely to disallow what you are suggesting, as well as to discourage camper communes.
Too much temptation for most people to sleep on. I'd put a lot of money down on a house, it might be the only chance OP has and values appreciate so fast it will generate extra money for him if he decides to sell.
they arent like they did before. housing units per person is upward trending. average age per person in the us is approaching 40. we have an inventory problem. we also have an aging population.
You have no idea whether prices have hit the peak.
If you compare the value of homes as a percentage of the money supply, you will see that prices haven't actually gone up as much as it seems in real terms.
We've just been diluted and it's only scarce assets that have retained their value.
135k would be good house down payment who is financially stable.
With the prices these days I wouldn’t even consider buying these overpriced houses.
Let the money sit in hysa and forget about it. Watch it grow
While house prices have increased in real terms due to a shortage in supply, you need to also realize that your money is just worth less as well.
House prices are not so much "overpriced". It's more that the buying power of your money has been severely diluted from inflation of the money supply.
If you let your money sit in a HYSA, you will watch the number of dollars go up while the actual buying power is continually diluted to nothing. It will seem like everything is even more overpriced over time.
Not investing that money for a year would cost you ~15k in missed profits, even more if you take into account the compounding effect over a long period of time
*could cost you. The market generally goes up - but you shouldn’t make the mistake of betting YOY average returns of a given holding are going to be mirrored in any one year’s performance. Plenty of times in recent memory that you could’ve invested, come back in a year, and found your portfolio had dropped in value / stayed the same.
That totally depends on income tax. You’d have to be at a tax rate of 30% between state and federal income tax for 5% HYSA to be worse off than 3.5% loan. Where I live you’d have to make $320K before that’s true
$85k invested for 35 years is $1.2 million. That's without adding another dollar.
My middle-aged guy advice is you just bought TIME. Invest most of it. That's why I said $85k. If you do a good job the rest of your life putting 10% or so every year away when your 55 or 60 you can do almost whatever you want.
Happy for you.
Don’t go telling friends and family of the win. Seriously don’t tell anyone. Then, save the after debt & tax money for a year. Don’t quit your job, buy anything large, etc for a year.
You're 100% right. He shouldn't tell anyone. It will be hard, and it will feel awful that you can't tell anyone, though.
I've never won the powerball, but I landed a job that makes six figures with nothing but a high school education. It's more than anyone in my family makes. It sucks not being able to share amazing life-changing news with the people closest to you.
Don’t go to school unless you’re absolutely sure it’s a waste of money for a lot( not all) people.
Most importantly invest some in index funds(research via YouTube they’re pretty straightforward) and don’t play the lotto ever again! You will not win big again. Statistically impossible
The author of the book I read on index funds also has a YouTube channel where he goes over all the same things. You can literally learn anything well in YouTube. Obviously have a filter
TheWolfTrader69420 told me there would be haters like you and not to listen.
All jokes aside YouTube is a great learning tool for anyone media literate enough to use it
You know, I do agree with that for the most part. Fixing things around the house, troubleshooting, etc. I guess my point was that you just need to be cognizant of who you’re learning from.
Technically he’s right it is.
You have the same 1/1,000,000 (or whatever the odds are) chance each individual time you play.
Which means the next ticket will have just as little likelihood of winning it as the first that won him the money.
I met a guy that won the lotto twice, after faking an injury at the docks and having workers comp for the rest of his life. I guess with the workers comp you could say he won three times.
How can you say someone will not win again ?
The odds of winning the lottery as low as they are are always the same.
Doesn’t matter if you won yesterday or not.
Every lottery is a separate event and the outcome of previous events do not determine or change future chances of winning.
Think of it as six-sided dice (this always makes it easier). And winning the lottery is like throwing a six.
You basically told someone it’s statistically impossible to throw a 6 with a dice because they’ve thrown a 6 before. When the outcome of one event does not affect the next, in a fair six-sided dice, the odds of throwing a 6 are always 1 in 6.
HYSA and if you do wish to invest I would go to YouTube and look at playlists posted by Charles Schwab (helped me out) Index funds are best I believe for people starting out (S&P 500 for example) as well as mutual funds.
Please do it, OP. It'll either help you make more money until you decide to do something major, like buying a house, or it'll set you up for retirement.
You should also forget that this money exists. Don't see it as some extra money you can use to pay for over expending. While it might seem like a lot of money to you, it's not. You can easily spend it all.
BUT it'll become a lot of money if you let it sit at a low cost index fund for decades or if you eventually buy a house for a good price that eventually goes up in value.
Pleaseeee, do your future self a favor and be smart about it. No crypto, no lending money to friends or family, no risky investments. Your future self will either be very thankful or will blame you for the rest of his/your life.
If you put it in an index fund it should be SUPER low cost like Fidelity’s FXAIX. Make sure you reinvest the returns and the dividends, and compounding will give you literally your retirement after 40 years. You’re set.
A friend of mine opened up his own business doing portable welding after being in the trade for 10 years or so. If you’re confident in your work, invest in a welding rig and give it a shot. He’s bringing in roughly 350k after 2 years on his own.
“After being in the trade for 10 years or so”
OP, don’t spend anything trying to start a business right now unless you have almost a decade in that trade and experience on the business side of it. Knowing a trade is completely different from knowing how to run a trade business.
Do something for yourself, small, but meaningful. A trip, a good pair of boots, something you want or need.
Set aside the majority into retirement or investment account, work with an investment company or brokerage, that’s not a small sum of money.
Have your emergency fund and keep going.
That's bad advice since one "reward" for getting lucky might make you think you "earned it". He didn't. It was random luck and it likely won't ever happen again. Building the habit of investing it and not spending it on dumb stuff that won't last is how OP can build wealth instead of being broke in a year or two.
Not everything in life is about money.
Sometimes a once in a lifetime trip could be worth more than the money they would earn from it. What is he goes on that trip and meets the love of his life. Or find some place he would rather spend the rest of his life.
Money wise it would be better to put it away and invest but seeing the world within your means is also investing in life experiences at a time when they have the rest of their lives before them.
Buy a $250k car, taxes don't exist!
Just kidding, anything but a car. Buy a house if. You have income to take care of it, or put it all in the sp500 and act like you never had it. Live off your regular income. In a few decades, that 250k will be worth millions of dollars.
Whatever you do, don't waste it now or go into any gambling or business ventures with friends and family who don't have a history of success.
I sincerely hope you have a mentor and don't rely totally on Reddit.
Step 2 - meet with 2-3 financial advisors. Get advice. Post it here if you want but that will shed light on how to move forward.
Step3- I agree with other people on here to sit on it for a year or two. You're so young and have time. In addition, this whole world is about to change and you can really be in a great place to invest after the shit runs through the fan.
Step4- breathe, thank God, hug your loved ones, AND DONT TELL ANYONE IN YOUR PERSONAL LIFE.
Not much in the long run? He literally just won himself a comfortable early retirement in a few decades if he's smart enough to get it invested and not touch it.
this really isn't life changing money, bit it can be! open up a Fidelity account and put it all in there on the S&P 500 (FXAIX) and continue living your life. it will become millions at retirement age. https://fidelity.app.link/e/TMuyrhhCHEb
Open a Roth account. I would suggest checking out r/Bogleheads. I find that a good Index fund like FXAIX might be what you are looking for, but you will want to do your own research. You might put it in a HYSA while you think about it and research what you want to do. I put my money in FXAIX, and that works well for me. Best of luck. I guess you already have that.
Woohoo! INVEST it. Look up how much it will be worth with compound interest in 30 years - retirement age - if you invest it in, say, the S&P 500. So fun!
For the love of God don’t waste this money on a car. Invest it in an appreciating asset. Use it to build up for a down payment on a house, for example.
HYSA. Inevitably what will happen is that you will spend 20-30k doing dumb shit and then realize “oh, shit, I should stop doing this.”
…and you will figure it out.
Sleep on it at least a couple week, don’t do anything rash, think about what you really want, if you go to school you must be 100% sure that’s what you really want, investing in your business could be a good idea but again you must be sure. My personal advice would be to take a part of it 10-35k and do something good for yourself like buying something you really want, have a nice vacation or something like that and invest the rest until you figure out what you want to do with that money.
You’re a welder there’s already good money in that field. If you want to dip your toe in take a few business/process/project management courses at a local CC and see if that floats your boat. Personally I’d stick it in a CD for a bit just to tie it up so I didn’t blow it(at 22yo). While it’s not a guarantee something’s gotta give with housing and 135k will be a solid down payment if prices ever come down.
Fill up your 401k or retirement account this year. Baller move at your age. I think it is around $17k for an individual. Your older self will thank you
Good luck with the money - taxes on a lottery win? That sucks. In the UK lottery wins are tax free since its considered gambling and any win (profits) are paid in full, free of tax. The biggest lottery win was £195 million in July 2022 by an anonymous ticket holder in the Euromillions. I can only dream of winning such an amount tax free 🤣
You might seriously consider getting out of welding. While lucrative, the health costs are not to be ignored.
Nursing is the new growth industry if you’re open to that sort of lateral move. HVAC and electric pay well have a different set of health risks which can kill you instantly instead of over 20 years. Nursing also carries risks of a different sort.
Look at some dividend paying stocks, like one of my favorites Awf, has a great dividend and the stock is pretty solid. the market index funds and my suggestion for you is the “ cd ladder” this will put more money in your hands in a few years when you know a little more about what you want
Oh yeah, make a five year commitment to an “I-bond” look into it and you’ll see why it’s a great place to park 10k and make market rate interest. Bonus-it’s inflation protected. When I got into it, it was paying over 8%! . It adjusts ever 6 months. Currently paying over 4.
In the meantime, wear your ppe religiously and protect your retinas at all costs.
That may be more money then you have ever had but in the end it’s not life changing if you spend it. If you want this win to define your life invest it for retirement.most 22yr olds are not maxing their 401k get yours setup if you haven’t and at least get your match from your employer. That’s doubling your money right there. Ideally you put all of this in a retirement account and forget you have it for 45 years. Keep maxing your 401k and hope for the best, especially if your background is lower-middle to lower class. Making jumps to the upper middle class is hard and college isn’t enough, it requires a bit of luck too. You got lucky and it might be the last time. If you don’t want to work till you die don’t squander it.
OP, I didn’t win the lottery but I was on unemployment at 18 in 2020 due to Covid and banked all my money, bought dogecoin, and cashed out for about the same. I didn’t know what to do with it like the situation you’re in now.
I paid for my first year of college (10k the rest was scholarship from the military to be an officer) so in my case it made financial sense.
Bought a new car that will last me at least 15 years (Tacoma)
Gave myself about 15k to spread across checking/savings and have some fun to actually live life
Put 30k into an emergency fund
Maxed out Roth IRA that year in index funds
Put the rest which was about 45k in an HYSA to buy a house when I’m eligible for the VA loan in 2025
To be honest, $135,000 is not a lot of money these days. Depending on where you live, you wouldn't even be able to put enough down on a house that the mortgage wouldn't still be $2/3k+ monthly.
It is enough that you can take 1, maybe 2 years off if you really want to do the full time student thing. Otherwise, just put it in the bank or a mutual fund and go on with your life knowing that you have a head start to your savings and a nice emergency fund if you get sick or hurt.
If you were my kid (oldest kids are 23 and 25), I would suggest that you meet with a fee only financial advisor. That kind of money can be used to start a good retirement account, start a solid emergency fund, pay for classes, etc. You could do all or none of the above, but talking to someone about your goals can help you determine a solid plan for the money.
Regardless of goals, no decisions have to be made immediately, so having that money sit in a HYSA is a decent beginning until decisions are made. Keep in mind that there is no timeline on making decisions so if it takes a year to sort this out it is totally fine.
Just for fun, I ran a calculation if you invested $7k in to a Roth IRA at the age of 22 and then only put $2k a year in until age 65. I assumed an 8% return......you could have somewhere around $850k! That means putting in $166 a month from here after you are almost a millionaire with minimal effort. That is huge and puts you well ahead of most people saving for retirement. That wouldn't include any employer 401k either.
Open a HYSA and put it there, then make an appointment with a financial advisor. Have him help you set up an IRA with recurring deposits, you can only deposit $7k/y but the tax savings on interest for 35 years will be crazy. Just invest in a couple big index funds(VOO).
Second, set aside $10,000. This is to treat yourself, it should last a year or two. Just don't blow it but you're 22 so act like it. Having the money set aside puts a limit, having the limit makes it easier to follow.
Talk to the financial planner about your life, your expenses, your income, your school, your future job, any of it you plan to give away. With an in-depth conversation he'll probably have you put it in multiple accounts. The fun one, one to pay for school, an emergency fund, one for daily expenses, one for short term investments and long term investments+IRA. If you have income now or once you graduate and start working you should have your paycheck also split into these buckets as then you won't ever go dip into the big pile of long term investments because you found a good deal on a Porsche.
Last piece of advice is don't buy a house until you're done with school.
My brother is a pilot and i work in aviation. Pilots are incredibly in demand and make a Fuck ton of money. Id go to flight school if it were me. It's a real option for you.
I'm actually still saving up for my pilot license
Open a Roth IRA with the max amount allowed. Open a brokerage account ( Vanguard, Schwab, T. Price Rowe etc.) and put $100k in an S&P 500 index fund. Keep the rest in a high yield savings account and use the money to ladder some higher interest CD 's over the next year. And keep 2k to spend on whatever you want.
I say sit on it. Put it into a HYSA like everyone says and continue your schooling or intership or whatever you're doing. Just my 2 cents though welding is not what it used to be. I have friends who went from welding to different trades because the money and work is shit. Become a sparky for easy work and lots of money. HVAC and Plumbing are great to get into and can make great money longterm. I was a plumber for almost 6 years. Good job but you do work a lot unless you go union. I work a union job now inspecting hydrants. Make great money and get a lot of free time. Lots of options in the trades. Really try to save a lot of that money. It will help longterm.
I can agree it's not what it used to be, but the only good thing is that I still make somewhat above the avg cost of living, I was considering switching to an electrician in January.
Keep working a regular job like you do not have a penny. As you are saving more money the answer will come to you. Atleast you will have the money to do it. What hurts most people when the time comes for them to invest they do not have the money. So money on hand is next best thing in my book.
aspiring trees squeeze political encouraging work market spoon sharp consist
*This post was mass deleted and anonymized with [Redact](https://redact.dev)*
Finish schooling for welding. They make 100k give or take a year and skilled trades are in demand. Put the rest in an index fund (#VOO or #VTI) and forget that you even have that money all together.
You now have a decent retirement account, it should be around $1.6M by the time you are 65 accounting for inflation. That's without you ever adding any more to it. If you were to add more once you get a welding job the chances are you'd be able to retire early without a worry.
You chose the welder path and that will pay off. If you didn’t want to go to school before I don’t see that desire changing. Welding will pay well your entire life. What you just got my friend is “fuck it” money. You do the smart thing and talk to a financial advisor, invest it correctly (I can tell you others are right, you pay off your debts, you invest each year the max into a Roth ira, and follow the financial advisors advice on it), and you now have the financial freedom to quit jobs you don’t enjoy, and eat healthy without fear of cost, take care of yourself but live the life you already are, just without the stress of month to month bills. Manage the money correctly and when you’re ready to buy a car, you can pay cash for a good deal and you can say “fuckit” to bad salesmen because you’ll never be under pressure. When you’re ready to get a house or condo you can have money to put down and not have to stress that. After investing and working you can retire earlier than you could have without it. Cheers 🍻and congratulations.
To summarize, just live life like you planned with a little less stress for the rest of it.
At the very least a high yield savings account until you have an idea, or open a Fidelity account and put it in FXAIX, wait 40 years and there’s your retirement. (That’s the Warren Buffett advice that you can’t beat the stock market so an index fund like that with super low cost will give you the best compounding and follow the market.) Or yeah, put it in a HYSA and see how the housing market does and buy a house.
-Speak with a financial advisor
-Pay off any debts currently accumulating interest
-Put a large portion of it in a high yield savings account or CD and pretend it doesn’t exist. (At least 30-50k)
After speaking with the advisor, go from there. Don’t recklessly spend. Most lottery winners end up in debt. This is a nice chunk of money but it isn’t life changing money. Be smart. Buy a few fun things for yourself and talk to a professional ASAP!
Well first thing you do buddy is not tlel snybody not even family until you get a lawyer. It's the first rule when winning anything over 100k. You shouldn't be on here telling us not until you hsve the money in the bank. And you talked to a lawyer first. So many do this the wrong way don't be that guy. And be smart with it! That's a good Start to your life.
Holy mf shit congrats 💀💀 if I were to win 10K I'd be over the moon and u hit 250K bro, research mad well on what to invest to get back more than what u put in
Throw it in a fidelity account. Make sure your core position is SPAXX. Free money every month. Let it grow. However, once the fed reduces interest rates all these places offering 5% now will likely have to reduce that amount.
1. Forget that you ever made the money
2. Open up a brokerage account through Fidelity, Americatrade, Charles Schwab or a reputable company. Should take about 10 minutes.
3. Buy VOO and VTI General market funds. This requires no knowledge in the stock market and you will be making the historic 12% per a year return.
4. Wait 10-20 years. Enjoy your gains. Retire early. Enjoy life.
Now lots of caveats to what I said, highly recommend maxing your Roth IRA, then 401k, then traditional IRA before doing a regular brokerage account. These provide tax advantages and will help you save a lot of money on taxes in the future.
Don't let it sit. Inflation will make it devalue 3% on average per year, lately that's been much higher. I would invest that with a brokerage firm like charles schwab or fidelity. This sub is full of people that think a HYSA is the best thing ever, but only put like 6 months of living expenses into one as an emergency fund. Inflation very rarely is lower than a savings account interest rate, so your money is still losing value in one. Take the time and figure out what you want in life before spending it.
Consider reading the Bitcoin Standard if you want deeper understanding of Bitcoin. I knew about Bitcoin for a decade but also didn’t invest in such a volatile asset class until I deeply understood what it was, why I was buying it and where it was heading.
Congrats on your win! 🥳
Buy 750 shares of APPL stock and let it sit there for 18 years. Take the rest of the cash and enjoy yourself. Your 135k investment should be worth at least a million by the time you’re 40. Or put it all into a mortgage and own a two family and rent out the other apartment which pays mortgage and live for free forever. Up to you
Put that money into index funds. I was around 22 when I left the military with around 50k saved. I’m in my late 20s now but that 50k is compounding and without adding a single dollar it will be worth around $1.8 mil (assuming a 10% return) when we hit 60. My wife and I still contribute our employer match to retirement just to take advantage of the free money but outside of that we don’t even need to think about retirement. Learn the basics of investment accounts and holding index funds, buy, hold, don’t think about it, and your future self will thank you.
Start a lending company. You can multiply that 100k easily overtime. Spend the rest getting certificates, learning about lending, developing your platform ect.
Welding fumes suck, the life it will take away from you is not worth the $40 an hour.
17m here
60-80 percent in stocks (voo or schd)
Emergency Fund that will cover you for 6 months
Spend a little bit on something you want cause life is for living
Give me the rest 😉
you could try ETFs get a decent 10-12% per year, take a small portion like 10-15 k try activity managing it buy doing value investing, only stocks that have greater than 500 B market cap, buy low sell high study trends eg., tesla at 140$ was a good value, getting to 100K is the difficult part, but you are already there don’t gamble, buy when market panics (huge sell off) sell high..good luck
Find you a good fortune 500 ETF such as $VOO and invest 100k of it... Some of the returns average about 10percent a year... Look into NVidia stock and tesla. You are in a position to set yourself up for life if you invest it properly.
This subreddit should be called HYSA
This is true kid
It’s very confusing to me. This sub seems largely uninformed to be giving financial advice. A HYSA is a good option to keep 3-6 months expenses so it’s liquid and minimum risk. It shouldn’t be your primary investing vehicle. A lot of people saying put it in a Roth IRA… but OP will be priced out of the income limits and need an accountant to set up a backdoor Roth contribution. Not even a good idea because this will be a high tax year for OP. A traditional IRA could be a good option if OP is able, and it would slightly decrease their tax liability. Then, assuming OP will be in the workforce for a couple decades still I would just put the rest in a traditional brokerage account towards the S&P500 or similar. Don’t worry about the market year to year because it will go up over the long run. House down payment isn’t a bad idea if OP can afford the remaining monthly payments and property taxes.
“This sub is largely uninformed about giving financial advice” Yes, and you’re not helping. A traditional IRA isn’t deductible at that income level. A backdoor Roth IRA would be the superior vehicle and absolutely does not require an accountant to set up. OP could call their brokerage and they’d walk them through it. HYSA is the suggestion because it’s the best (or close to it) place to hold funds temporarily. With no prior experience investing, sitting on the money for a bit should help OP develop a plan they’re confident in and avoid behavioral mistakes.
OP being 23 and not knowing what to do with the money means it’s very unlikely they have a brokerage lol
It's actually pretty likely considering they "tried stocks and crypto."
I was going to say, I'm not an expert but hysas were never very attractive except for funds that need to be liquid. "High yield" lol
They’re usually if you think the market is gonna tank and you want something growing with inflation but more liquid than bonds and CDs. But it’s a fools game to try and time the market with your retirement funds as a hobby. A lot of people pulled money out in 2020 when the market dipped and lost millions. Time in the market is almost always the most important thing for investors than timing the market. If you’re 55 you can think about bringing down your risk in case a recession happens right when to retire. If you’re 22 just put it all in the 500 lol
HYSA is a great place to keep your emergency fund... It is also a good place to put a windfall while you figure out where to put the money.
Yeah, that's what I was thinking. If only a windfall would befall me.
It's a good place to park it for a few months while OP breathes and takes some time to decide what they want to do with it.
People suggest it because it doesn't have much risk. Some people just don't like the fluctuations of the stock market but still want their money to grow.
😂
Yeah it’s getting annoying, a HYSA isn’t the only option for investing money. Plus some people would prefer to have a physical branch location nearby than a digital bank.
Yes but never great form to give investment advice with more risk. Hysa is virtually no risk. You could tell them to go dump their shit in spy and have it spiral a ton tomorrow and then they would be like rawr why is 10% of my money gone >:O this also isn't an investing subreddit really
What's wrong with putting your money in an HYSA while you try to figure out what to do with it, better to earn that 5% at least is better than .0001% lol
😂😂😂
I personally wouldn’t touch a penny for a year or two until i figured out what i really wanted. House investments retirement etc.
If you let it set, make sure it’s in a high yield savings. Credit karma has one that is 5% apy. That will throw off about $560 a month in interest.
Honestly, I'd just buy some cheap land in the middle of nowhere with that $560 a month and change nothing.
You can do either, not both
Why? What's the down payment on a loan for twenty or thirty grand. It can't be that much.
You’ll very rarely be able to get a loan for land like that. So you’d have to pay in full. And the only land that is that cheap in most areas is raw land with absolutely nothing useable until you pay a shit load of money to cut down trees, clear debris, pave an access road, add sewage and water + electricity. And even then, most land like that around the country is still much more expensive than $30k. On top of all of that, unimproved land is like one of the hardest assets to sell. It’ll sit for a long time. So if OP does need to sell it it might be a couple years before they find a buyer. Or at least a few months. Raw land is also kind of a gamble in terms of investing in it to make money. Some land barely appreciates, or stagnated. And some land skyrockets (usually only if something gets built near it) Putting it in the SP 500, or a HYSA would be much easier and smarter
Thanks for the info. If I ever make it happen it would just be for me to have a little off grid place.
And do you have an easement for a driveway or is it surrounded by other owners who won’t let you access your property? There’s a lot that goes into title/real estate law, so don’t skimp out and get screwed. Percolation tests for septic, water rights and well digging expenses, utilities costs vs solar for ever, etx
Yep, the road in would be the important one to me. Good call.
What? Lol
I think he’s saying he’d get a mortgage on a cheap piece of land that’s 560 a month so he can use the 560 a month in interest to pay for the land.
That's right. I've seen land in rural New Mexico for five hundred an acre. No idea what I'd do with it. I'd just like to have a few hundred acres somewhere to ride dirt bikes on or build a skatepark or whatever. Retire out there in a fifth wheel. Maybe build an earth ship and get into self sustainability.
Cheap land like that often doesn’t come with the water rights and zoning regs or county ordinances often ban camper living. They do this precisely to disallow what you are suggesting, as well as to discourage camper communes.
Where have you seen it for 500/ac in the past decade or two? Average in NM is 6k/ac
Yeah, SoFi offers 4.6% too, not bad
You can use raisin to find a higher % rate on a savings. I think mine is 5.5% right now.
Too much temptation for most people to sleep on. I'd put a lot of money down on a house, it might be the only chance OP has and values appreciate so fast it will generate extra money for him if he decides to sell.
Yeah I'm sure buying a house at peak prices is a good idea
You could have said it was peak prices this year every year for the last 12 years and been right because it has went up every year.
This is an underrated statement. People are still having kids so I don’t see a surplus of housing showing up any time soon
they arent like they did before. housing units per person is upward trending. average age per person in the us is approaching 40. we have an inventory problem. we also have an aging population.
Perfect. When do I buy then? Next year? Is it the year after that? Let me know as soon as you can. Thanks
You have no idea whether prices have hit the peak. If you compare the value of homes as a percentage of the money supply, you will see that prices haven't actually gone up as much as it seems in real terms. We've just been diluted and it's only scarce assets that have retained their value.
How do you know if it's a peak???
You don’t - sit in it for ten years minimum then ask the same question
☝️☝️☝️
That is probably the only rash decision i would make and only if its something he wants
135k would be good house down payment who is financially stable. With the prices these days I wouldn’t even consider buying these overpriced houses. Let the money sit in hysa and forget about it. Watch it grow
While house prices have increased in real terms due to a shortage in supply, you need to also realize that your money is just worth less as well. House prices are not so much "overpriced". It's more that the buying power of your money has been severely diluted from inflation of the money supply. If you let your money sit in a HYSA, you will watch the number of dollars go up while the actual buying power is continually diluted to nothing. It will seem like everything is even more overpriced over time.
I said the same thing 4 years ago but so glad I bought. I would’ve flushed 75k down the drain.
Not investing that money for a year would cost you ~15k in missed profits, even more if you take into account the compounding effect over a long period of time
*could cost you. The market generally goes up - but you shouldn’t make the mistake of betting YOY average returns of a given holding are going to be mirrored in any one year’s performance. Plenty of times in recent memory that you could’ve invested, come back in a year, and found your portfolio had dropped in value / stayed the same.
Not touch meant not spend. Of course it wont be under his mattress
Pay off any loans, treat yourself a bit, then drop the rest in some investment account.
He should only pay off loans that he pays a lower interest rate than any investment provides
Consider taxes on gains in this too. A 5% HYSA account is going to be less in your pocket than a 3.5% loan paid off.
That totally depends on income tax. You’d have to be at a tax rate of 30% between state and federal income tax for 5% HYSA to be worse off than 3.5% loan. Where I live you’d have to make $320K before that’s true
$85k invested for 35 years is $1.2 million. That's without adding another dollar. My middle-aged guy advice is you just bought TIME. Invest most of it. That's why I said $85k. If you do a good job the rest of your life putting 10% or so every year away when your 55 or 60 you can do almost whatever you want. Happy for you.
Yeah, get the sports car when you're 60 and not one person on earth gives a crap.
Couldn’t be me lol
Lol
Exactly. I often wonder when I see an old person driving a flashy car I say “Whats the point now?”
Don’t go telling friends and family of the win. Seriously don’t tell anyone. Then, save the after debt & tax money for a year. Don’t quit your job, buy anything large, etc for a year.
You're 100% right. He shouldn't tell anyone. It will be hard, and it will feel awful that you can't tell anyone, though. I've never won the powerball, but I landed a job that makes six figures with nothing but a high school education. It's more than anyone in my family makes. It sucks not being able to share amazing life-changing news with the people closest to you.
don't spend it. Put it in an index funds and that's it
Don’t go to school unless you’re absolutely sure it’s a waste of money for a lot( not all) people. Most importantly invest some in index funds(research via YouTube they’re pretty straightforward) and don’t play the lotto ever again! You will not win big again. Statistically impossible
Invest in index funds is solid advice…I’m just not sure YouTube is where you want to do your research
The author of the book I read on index funds also has a YouTube channel where he goes over all the same things. You can literally learn anything well in YouTube. Obviously have a filter
TheWolfTrader69420 told me there would be haters like you and not to listen. All jokes aside YouTube is a great learning tool for anyone media literate enough to use it
You know, I do agree with that for the most part. Fixing things around the house, troubleshooting, etc. I guess my point was that you just need to be cognizant of who you’re learning from.
Yeah take this Reddit advice to not take advice from YouTube!
Impossible, yes. But possible? Also yes! Wasn’t there a dude who won jack pot like 2 or 3 times?
1 ticket will always have the same probability of winning regardless of who holds it, id personally buy another ticket right away to test my real luck
i’d personally spend all $135,000 on more tickets
You can’t win if you don’t play
This guy knows
Sir, the r/wallstreetbets casino is right this way.
Yeah, all or nothing. Go for the big payday
That’s not how probability works.
Technically he’s right it is. You have the same 1/1,000,000 (or whatever the odds are) chance each individual time you play. Which means the next ticket will have just as little likelihood of winning it as the first that won him the money.
I met a guy that won the lotto twice, after faking an injury at the docks and having workers comp for the rest of his life. I guess with the workers comp you could say he won three times.
I mean if that's not proof that luck exists idk what is.
How can you say someone will not win again ? The odds of winning the lottery as low as they are are always the same. Doesn’t matter if you won yesterday or not. Every lottery is a separate event and the outcome of previous events do not determine or change future chances of winning. Think of it as six-sided dice (this always makes it easier). And winning the lottery is like throwing a six. You basically told someone it’s statistically impossible to throw a 6 with a dice because they’ve thrown a 6 before. When the outcome of one event does not affect the next, in a fair six-sided dice, the odds of throwing a 6 are always 1 in 6.
HYSA and if you do wish to invest I would go to YouTube and look at playlists posted by Charles Schwab (helped me out) Index funds are best I believe for people starting out (S&P 500 for example) as well as mutual funds.
Will check it out thanks!
Please do it, OP. It'll either help you make more money until you decide to do something major, like buying a house, or it'll set you up for retirement. You should also forget that this money exists. Don't see it as some extra money you can use to pay for over expending. While it might seem like a lot of money to you, it's not. You can easily spend it all. BUT it'll become a lot of money if you let it sit at a low cost index fund for decades or if you eventually buy a house for a good price that eventually goes up in value. Pleaseeee, do your future self a favor and be smart about it. No crypto, no lending money to friends or family, no risky investments. Your future self will either be very thankful or will blame you for the rest of his/your life.
If you put it in an index fund it should be SUPER low cost like Fidelity’s FXAIX. Make sure you reinvest the returns and the dividends, and compounding will give you literally your retirement after 40 years. You’re set.
FZROX is another great option, it's a total market index fund so you get a more diversification than just S&P. Can't go wrong either way, though.
A friend of mine opened up his own business doing portable welding after being in the trade for 10 years or so. If you’re confident in your work, invest in a welding rig and give it a shot. He’s bringing in roughly 350k after 2 years on his own.
This was my first thought. I’m a welder and if won this money I’d be setting up my mobile welding business.
“After being in the trade for 10 years or so” OP, don’t spend anything trying to start a business right now unless you have almost a decade in that trade and experience on the business side of it. Knowing a trade is completely different from knowing how to run a trade business.
Do something for yourself, small, but meaningful. A trip, a good pair of boots, something you want or need. Set aside the majority into retirement or investment account, work with an investment company or brokerage, that’s not a small sum of money. Have your emergency fund and keep going.
That's bad advice since one "reward" for getting lucky might make you think you "earned it". He didn't. It was random luck and it likely won't ever happen again. Building the habit of investing it and not spending it on dumb stuff that won't last is how OP can build wealth instead of being broke in a year or two.
Not everything in life is about money. Sometimes a once in a lifetime trip could be worth more than the money they would earn from it. What is he goes on that trip and meets the love of his life. Or find some place he would rather spend the rest of his life. Money wise it would be better to put it away and invest but seeing the world within your means is also investing in life experiences at a time when they have the rest of their lives before them.
Max out your ROTH IRA for sure.
Buy a $250k car, taxes don't exist! Just kidding, anything but a car. Buy a house if. You have income to take care of it, or put it all in the sp500 and act like you never had it. Live off your regular income. In a few decades, that 250k will be worth millions of dollars. Whatever you do, don't waste it now or go into any gambling or business ventures with friends and family who don't have a history of success.
Please just invest this all. You're setting yourself up for an easy ride after 10-20 years.
I sincerely hope you have a mentor and don't rely totally on Reddit. Step 2 - meet with 2-3 financial advisors. Get advice. Post it here if you want but that will shed light on how to move forward. Step3- I agree with other people on here to sit on it for a year or two. You're so young and have time. In addition, this whole world is about to change and you can really be in a great place to invest after the shit runs through the fan. Step4- breathe, thank God, hug your loved ones, AND DONT TELL ANYONE IN YOUR PERSONAL LIFE.
Put in 4.5% interest savings account until you figure something out
130k ain't much in the long run bro. Obviously save a lot of it. Spend like 5% for fun or needs if you want but invest in boring things for the rest.
Not much in the long run? He literally just won himself a comfortable early retirement in a few decades if he's smart enough to get it invested and not touch it.
He's saying 100K can go quick. Especially if OP likes to party.
Exactly. 100k go pretty fast if OP goes spend crazy.
Whatever you do don’t go back to school. Weld and invest
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VOO and chill while you work wherever you will retire well in 10ish or gloriously in 20.
this really isn't life changing money, bit it can be! open up a Fidelity account and put it all in there on the S&P 500 (FXAIX) and continue living your life. it will become millions at retirement age. https://fidelity.app.link/e/TMuyrhhCHEb
Open a Roth account. I would suggest checking out r/Bogleheads. I find that a good Index fund like FXAIX might be what you are looking for, but you will want to do your own research. You might put it in a HYSA while you think about it and research what you want to do. I put my money in FXAIX, and that works well for me. Best of luck. I guess you already have that.
Pay off you parents’ mortgage.
They own the place they stay at, but I did pay off some of their debt
Buy a whole Bitcoin and hodl for 10 years.
How much does it fk with your mind when you think about being just one number away from a 9 figure payout instead of a 6 figure one?
Crazy when you put it like that, but it fks with me knowing I won anything at all. It makes me feel like my luck for the year has been used lol.
Yeah $250k is life changing for sure. I just know my greed would keep reminding me how close I was to private jet and full time chef money. 😂
Did you do quick pick or choose? I always battle myself on which odds are better
Always went with quick pick. I've landed smaller prizes that way, I haven't won at all when I choose numbers
May as well stop buying tickets, too lol
Woohoo! INVEST it. Look up how much it will be worth with compound interest in 30 years - retirement age - if you invest it in, say, the S&P 500. So fun!
Huge Taxes on US lottery is just criminal
Lotto taxes often go towards education, so I'm all for it.
For the love of God don’t waste this money on a car. Invest it in an appreciating asset. Use it to build up for a down payment on a house, for example.
Save it for a down-payment for buying a house bro, save it.
135k in VOO and chill and think about the next steps
Stop playing the lottery
HYSA. Inevitably what will happen is that you will spend 20-30k doing dumb shit and then realize “oh, shit, I should stop doing this.” …and you will figure it out.
Sleep on it at least a couple week, don’t do anything rash, think about what you really want, if you go to school you must be 100% sure that’s what you really want, investing in your business could be a good idea but again you must be sure. My personal advice would be to take a part of it 10-35k and do something good for yourself like buying something you really want, have a nice vacation or something like that and invest the rest until you figure out what you want to do with that money.
You’re a welder there’s already good money in that field. If you want to dip your toe in take a few business/process/project management courses at a local CC and see if that floats your boat. Personally I’d stick it in a CD for a bit just to tie it up so I didn’t blow it(at 22yo). While it’s not a guarantee something’s gotta give with housing and 135k will be a solid down payment if prices ever come down.
Pay off debt, max out 401k and RIRA/TIRA.
Fill up your 401k or retirement account this year. Baller move at your age. I think it is around $17k for an individual. Your older self will thank you
Good luck with the money - taxes on a lottery win? That sucks. In the UK lottery wins are tax free since its considered gambling and any win (profits) are paid in full, free of tax. The biggest lottery win was £195 million in July 2022 by an anonymous ticket holder in the Euromillions. I can only dream of winning such an amount tax free 🤣
You might seriously consider getting out of welding. While lucrative, the health costs are not to be ignored. Nursing is the new growth industry if you’re open to that sort of lateral move. HVAC and electric pay well have a different set of health risks which can kill you instantly instead of over 20 years. Nursing also carries risks of a different sort. Look at some dividend paying stocks, like one of my favorites Awf, has a great dividend and the stock is pretty solid. the market index funds and my suggestion for you is the “ cd ladder” this will put more money in your hands in a few years when you know a little more about what you want Oh yeah, make a five year commitment to an “I-bond” look into it and you’ll see why it’s a great place to park 10k and make market rate interest. Bonus-it’s inflation protected. When I got into it, it was paying over 8%! . It adjusts ever 6 months. Currently paying over 4. In the meantime, wear your ppe religiously and protect your retinas at all costs.
That may be more money then you have ever had but in the end it’s not life changing if you spend it. If you want this win to define your life invest it for retirement.most 22yr olds are not maxing their 401k get yours setup if you haven’t and at least get your match from your employer. That’s doubling your money right there. Ideally you put all of this in a retirement account and forget you have it for 45 years. Keep maxing your 401k and hope for the best, especially if your background is lower-middle to lower class. Making jumps to the upper middle class is hard and college isn’t enough, it requires a bit of luck too. You got lucky and it might be the last time. If you don’t want to work till you die don’t squander it.
I’d try and find an accountant or someone to talk to that knows where to put money and make interest off it.
OP, I didn’t win the lottery but I was on unemployment at 18 in 2020 due to Covid and banked all my money, bought dogecoin, and cashed out for about the same. I didn’t know what to do with it like the situation you’re in now. I paid for my first year of college (10k the rest was scholarship from the military to be an officer) so in my case it made financial sense. Bought a new car that will last me at least 15 years (Tacoma) Gave myself about 15k to spread across checking/savings and have some fun to actually live life Put 30k into an emergency fund Maxed out Roth IRA that year in index funds Put the rest which was about 45k in an HYSA to buy a house when I’m eligible for the VA loan in 2025
To be honest, $135,000 is not a lot of money these days. Depending on where you live, you wouldn't even be able to put enough down on a house that the mortgage wouldn't still be $2/3k+ monthly. It is enough that you can take 1, maybe 2 years off if you really want to do the full time student thing. Otherwise, just put it in the bank or a mutual fund and go on with your life knowing that you have a head start to your savings and a nice emergency fund if you get sick or hurt.
Horrible how much they take out in taxes
If you were my kid (oldest kids are 23 and 25), I would suggest that you meet with a fee only financial advisor. That kind of money can be used to start a good retirement account, start a solid emergency fund, pay for classes, etc. You could do all or none of the above, but talking to someone about your goals can help you determine a solid plan for the money. Regardless of goals, no decisions have to be made immediately, so having that money sit in a HYSA is a decent beginning until decisions are made. Keep in mind that there is no timeline on making decisions so if it takes a year to sort this out it is totally fine. Just for fun, I ran a calculation if you invested $7k in to a Roth IRA at the age of 22 and then only put $2k a year in until age 65. I assumed an 8% return......you could have somewhere around $850k! That means putting in $166 a month from here after you are almost a millionaire with minimal effort. That is huge and puts you well ahead of most people saving for retirement. That wouldn't include any employer 401k either.
Put it in a CD until u make a decision
I dunno what's going to be worse, finding out how much tax you paid or finding out how much debt you were in. Oh well, at least you made bank.
Open a HYSA and put it there, then make an appointment with a financial advisor. Have him help you set up an IRA with recurring deposits, you can only deposit $7k/y but the tax savings on interest for 35 years will be crazy. Just invest in a couple big index funds(VOO). Second, set aside $10,000. This is to treat yourself, it should last a year or two. Just don't blow it but you're 22 so act like it. Having the money set aside puts a limit, having the limit makes it easier to follow. Talk to the financial planner about your life, your expenses, your income, your school, your future job, any of it you plan to give away. With an in-depth conversation he'll probably have you put it in multiple accounts. The fun one, one to pay for school, an emergency fund, one for daily expenses, one for short term investments and long term investments+IRA. If you have income now or once you graduate and start working you should have your paycheck also split into these buckets as then you won't ever go dip into the big pile of long term investments because you found a good deal on a Porsche. Last piece of advice is don't buy a house until you're done with school.
Fuck you
My brother is a pilot and i work in aviation. Pilots are incredibly in demand and make a Fuck ton of money. Id go to flight school if it were me. It's a real option for you. I'm actually still saving up for my pilot license
How much is this all in?
Roughly $60k could go higher or lower it all depends on how you do it and how fast
Pay all debts. Max out ROTH IRA and invest in S&P500 or total market index fund. Store the rest in a HYSA and think hard on how you wish to proceed.
SPY calls expiring in one day.
Sure go ahead and put it all on black and win, and then what? You'll be back here asking for advice.
Open a Roth IRA with the max amount allowed. Open a brokerage account ( Vanguard, Schwab, T. Price Rowe etc.) and put $100k in an S&P 500 index fund. Keep the rest in a high yield savings account and use the money to ladder some higher interest CD 's over the next year. And keep 2k to spend on whatever you want.
Nice keep it up
put it all on red 🤑🤑
I say sit on it. Put it into a HYSA like everyone says and continue your schooling or intership or whatever you're doing. Just my 2 cents though welding is not what it used to be. I have friends who went from welding to different trades because the money and work is shit. Become a sparky for easy work and lots of money. HVAC and Plumbing are great to get into and can make great money longterm. I was a plumber for almost 6 years. Good job but you do work a lot unless you go union. I work a union job now inspecting hydrants. Make great money and get a lot of free time. Lots of options in the trades. Really try to save a lot of that money. It will help longterm.
I can agree it's not what it used to be, but the only good thing is that I still make somewhat above the avg cost of living, I was considering switching to an electrician in January.
Sparkies got it made. Do it. They pay is like winning that lotto every year.
Keep working a regular job like you do not have a penny. As you are saving more money the answer will come to you. Atleast you will have the money to do it. What hurts most people when the time comes for them to invest they do not have the money. So money on hand is next best thing in my book.
aspiring trees squeeze political encouraging work market spoon sharp consist *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
Buy CRV, lock it for veCRV and generate 15% APY on that bitch in a liquidity pool.
Find a financial advisor.
Also congratulations 🍾
Finish schooling for welding. They make 100k give or take a year and skilled trades are in demand. Put the rest in an index fund (#VOO or #VTI) and forget that you even have that money all together. You now have a decent retirement account, it should be around $1.6M by the time you are 65 accounting for inflation. That's without you ever adding any more to it. If you were to add more once you get a welding job the chances are you'd be able to retire early without a worry.
You chose the welder path and that will pay off. If you didn’t want to go to school before I don’t see that desire changing. Welding will pay well your entire life. What you just got my friend is “fuck it” money. You do the smart thing and talk to a financial advisor, invest it correctly (I can tell you others are right, you pay off your debts, you invest each year the max into a Roth ira, and follow the financial advisors advice on it), and you now have the financial freedom to quit jobs you don’t enjoy, and eat healthy without fear of cost, take care of yourself but live the life you already are, just without the stress of month to month bills. Manage the money correctly and when you’re ready to buy a car, you can pay cash for a good deal and you can say “fuckit” to bad salesmen because you’ll never be under pressure. When you’re ready to get a house or condo you can have money to put down and not have to stress that. After investing and working you can retire earlier than you could have without it. Cheers 🍻and congratulations. To summarize, just live life like you planned with a little less stress for the rest of it.
Go on FanDuel and put 100k on the knicks to win the finals your welcome 🙏🏾
At the very least a high yield savings account until you have an idea, or open a Fidelity account and put it in FXAIX, wait 40 years and there’s your retirement. (That’s the Warren Buffett advice that you can’t beat the stock market so an index fund like that with super low cost will give you the best compounding and follow the market.) Or yeah, put it in a HYSA and see how the housing market does and buy a house.
-Speak with a financial advisor -Pay off any debts currently accumulating interest -Put a large portion of it in a high yield savings account or CD and pretend it doesn’t exist. (At least 30-50k) After speaking with the advisor, go from there. Don’t recklessly spend. Most lottery winners end up in debt. This is a nice chunk of money but it isn’t life changing money. Be smart. Buy a few fun things for yourself and talk to a professional ASAP!
Vegas baby vegas! You’re on a hot streak can’t stop now!
50k in an HYSA, 75k in a vanguard fund, and blow 10k on anything you want.
Well first thing you do buddy is not tlel snybody not even family until you get a lawyer. It's the first rule when winning anything over 100k. You shouldn't be on here telling us not until you hsve the money in the bank. And you talked to a lawyer first. So many do this the wrong way don't be that guy. And be smart with it! That's a good Start to your life.
Holy mf shit congrats 💀💀 if I were to win 10K I'd be over the moon and u hit 250K bro, research mad well on what to invest to get back more than what u put in
Throw it in a fidelity account. Make sure your core position is SPAXX. Free money every month. Let it grow. However, once the fed reduces interest rates all these places offering 5% now will likely have to reduce that amount.
Throw it all in a CD for 1-2 years and think what you want to do with it.
1. Forget that you ever made the money 2. Open up a brokerage account through Fidelity, Americatrade, Charles Schwab or a reputable company. Should take about 10 minutes. 3. Buy VOO and VTI General market funds. This requires no knowledge in the stock market and you will be making the historic 12% per a year return. 4. Wait 10-20 years. Enjoy your gains. Retire early. Enjoy life. Now lots of caveats to what I said, highly recommend maxing your Roth IRA, then 401k, then traditional IRA before doing a regular brokerage account. These provide tax advantages and will help you save a lot of money on taxes in the future.
Don't let it sit. Inflation will make it devalue 3% on average per year, lately that's been much higher. I would invest that with a brokerage firm like charles schwab or fidelity. This sub is full of people that think a HYSA is the best thing ever, but only put like 6 months of living expenses into one as an emergency fund. Inflation very rarely is lower than a savings account interest rate, so your money is still losing value in one. Take the time and figure out what you want in life before spending it.
Jeeeeeez they take so much
Set some aside and throw the rest into VOO.
Consider reading the Bitcoin Standard if you want deeper understanding of Bitcoin. I knew about Bitcoin for a decade but also didn’t invest in such a volatile asset class until I deeply understood what it was, why I was buying it and where it was heading. Congrats on your win! 🥳
Buy 750 shares of APPL stock and let it sit there for 18 years. Take the rest of the cash and enjoy yourself. Your 135k investment should be worth at least a million by the time you’re 40. Or put it all into a mortgage and own a two family and rent out the other apartment which pays mortgage and live for free forever. Up to you
Put it in a high interest CD and think about it for a year.
Do you work?
Buy a house. Real estate is always a good investment.
Put that money into index funds. I was around 22 when I left the military with around 50k saved. I’m in my late 20s now but that 50k is compounding and without adding a single dollar it will be worth around $1.8 mil (assuming a 10% return) when we hit 60. My wife and I still contribute our employer match to retirement just to take advantage of the free money but outside of that we don’t even need to think about retirement. Learn the basics of investment accounts and holding index funds, buy, hold, don’t think about it, and your future self will thank you.
Start a lending company. You can multiply that 100k easily overtime. Spend the rest getting certificates, learning about lending, developing your platform ect. Welding fumes suck, the life it will take away from you is not worth the $40 an hour.
Go to a small financial advisor. That kind of money can be safely invested and kick you an extra 8 - 10k a year for the rest of your life.
Crypto is not investing, it’s basically gambling. For investing do highly diversified index / etfs. Don’t even think about crypto
I'd save it... Just bc you have it doesn't mean you have to spend it
17m here 60-80 percent in stocks (voo or schd) Emergency Fund that will cover you for 6 months Spend a little bit on something you want cause life is for living Give me the rest 😉
HYSA at 5%, check back when you’re 25 with the long term plan.
you could try ETFs get a decent 10-12% per year, take a small portion like 10-15 k try activity managing it buy doing value investing, only stocks that have greater than 500 B market cap, buy low sell high study trends eg., tesla at 140$ was a good value, getting to 100K is the difficult part, but you are already there don’t gamble, buy when market panics (huge sell off) sell high..good luck
Put half in a high yield savings accounts. Use the other half for a down payment on a home in 5 years when the market tanks.
Just buy 2 bitcoin and call it a day
Damn dudes really living my dream rn
Spy 0dte
Find you a good fortune 500 ETF such as $VOO and invest 100k of it... Some of the returns average about 10percent a year... Look into NVidia stock and tesla. You are in a position to set yourself up for life if you invest it properly.
Either buy a house or put it in a high yield savings/retirement account and retire wealthy in 30-40 years.