What should I do with 50k?
October 21, 2010 5:52 AM Subscribe
Say you're in your mid-twenties and suddenly have around 50k you want to start investing/saving. How would you go about doing it?
posted by torietorie to Work & Money (18 answers total) 24 users marked this as a favorite
My boyfriend couldn't believe that I had literally my entire savings in a checking account. To be fair, neither can I. Problem is, I know nothing about savings accounts or investing.
I've considered a HSBC or ING online savings account, but the rates aren't great - both are at 1.10%. I'm wondering if there's a better option for savings accounts if I have a higher minimum balance. I'm also young enough that the majority of my lifetime wealth is in future earnings, so I'm willing to be a little more risky than a basic savings account. I've read about Money Market accounts, CDs, etc... but I could use a human perspective from someone who isn't trying to advertise to me!