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What should my next move be? 26, will make about 60k this year.
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What should my next move be? 26, will make about 60k this year. I have about 20k in savings, no IRA, no stocks, no 401k at my company. I figure I have a good emergency fund, but not enough to invest at this time. I was thinking maybe a CD or some savings bonds, maybe 5k to start? I feel like the market is going to take a big drop by the end of the year so I want to stay out for now.
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>>1388122
Open up a MyRA from the treasury department.

Open up a Robinhood and put 100-200 a paycheck into it.

Open a Treasury Direct account and drop 100 on EE series bonds every check.

Other than that you would need to potentially branch out to make any money.
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>>1388144
Not against a vanguard index fund but don't they require a 10k minimum? Do I have enough savings to part with 10k?
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Open a Roth IRA at Vanguard and put in the maximum amount allowed every year (currently $5500).
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>>1388154
I didn't say anything about a vanguard index fund. Perhaps you were talking to the other anon.

My opinion on IRAs is that unless you have the 5500 already saved up just use the MyRA.

At your income level you don't gain any of the savers tax credit anyway
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