[USER]

In need of some advice.
I am a mother of 2, and I have a pretty good savings. About 22k put away.

I work a 9-5, and have a few side hustles for extra income.
We plan on buying a house soon, or building. So we’re saving for that.

We will be buying it, not leasing or getting a loan.
I am looking for wise investments.

I haves bought gold, but that doesn’t bring income for many years.. might even become a heirloom.

Been looking into crypto but not educated enough on it.
Any advice for a beginner investor?

I’ve had a CD account before and that gained a few hundred by the time I cashed out so I’ll definitely be doing that again.

Anything is appreciated!

Happy Wednesday!

[Tristan]

If you are planning to use that money in 5 years or less, cds, treasuries, low risk bonds, HYSA, or cash are generally the route to take

[Russell]

The median home price in the U.S. in January was $446k.
What do you mean you will “buy” a house, not get a loan?

You’re planning to save up the full $446k, plus growth over however long that takes?

As for “wise investments,” but your emergency fund into a HYSA, and the rest into an SP500 index fund.

[Robert]

Gold, Crypto, and CD’s I’m not appropriate vehicles for building, long-term wealth.

[Rebecca]

The easiest investment is an index mutual fund in Vanguard, the S&P 500 for example but there are a lot of other ones and you stand to make pretty good money.

That’s what all the wealthy people invest in.

Now is a good time to invest.

[Bethany]

Gold, crypto and CDs are not really appropriate investments for a beginning investor.

An SP500 index fund is typically what I would recommend.

[Mark]

Gold, crypto, and cds are not sound investments. I’d encourage u to do none of these if u prefer to make money over then long term.

Research low cost, broadbased index / mutual funds and etfs

[Sue]

You only have $22k and plan on buying a home or new build with no loan? Are you in a very LCOL area?

Where is this $22k invested in? You will need to keep on saving for many years if homes are in the $300k.

Also, don’t forget to contribute to your retirement fund account.

[Author]

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