Your best bet is to find some safe no-load mutual funds with index funds generally being the safest. Diversify it into maybe four different funds...and with the same family of funds...such as low-expense Van Guard Funds. I suggest Van Guard Total Stock Market Index, Explorer Fund, REIT Real Estate Fund and perhaps a global or international index fund...maybe $10K in the Total Stock Market, $8K in Explorer, and $5K each in REIT and International. Fidelity is also another good fund family, as is Janus. I have some of my investment in Janus Life Sciences. Although a sector fund that targets the medical and health fields , which is a little more risky, I invested at a good time, but in just 18 months, my investment has grown over 77%. To give you an idea, had you invested $28K 18 months ago, your $28K investment would be worth today, about $50-thousand. However, never expect an investment to out-perform it's latest return. I may only get 2% over the next 18 months, but I may also get 104%. The key is in long-term investing. Find a great fund, park your money in it, have any dividends roll over to buy more shares, and don't spend it. Sit on it.
How to become a millionaire by 65: If you start at age 20, if you invest $25 a week every week until you're 65 in the stock market that averages about 11% a year, which it has on average since 1930...you'll have over a million in cash by the that age. Imagine doubling your investment every decade! By age 30, invest $50 a week. By age 40, invest $100 a week. If you follow that pattern, you will end up very wealthy by retirement.
1.Good saving habits followed methodically and consistently over a lifetime pays off every time using good sense and proven investment options.
2. Never live beyond your means. Live in the same house all your life if you can, but be sure it's in a potentially great neighborhood. Real estate can be the single most
important investment of your lifetime.
3. Keep your car as long as possible. Only replace it once it cost more to repair than what a note will be. I have a 1995 and a 1997 car. These cars look great and run even better. Take care of this investment. I paid them off in 2000 and 2002. Since then, I have had a few repairs on them, but I have saved nearly $190-thousand between the both of them considering how much similar monthly payments would have been since those years I paid them off. This makes my 1997 BMW car, a cost of $6.86 a day since it was new if you spread out the purchase price across the time I've owned it. And, it only has 100K miles on it. Just now broken in....
If I were you, I would keep $3000, and learn how to count cards. If I were you, I would buy "Playing Blackjack as a Business" by Lawrence Revere, and study/learn all the charts and counting techniques.
If you are good enough you could even make $50000 a year, and you can invest that money with the remaining $25000, and start running a good business...
Figure out a 5 year plan. Where do you want to be? What do you want to have behind you? What do you want to be doing 7/1/2019?
Will you need that money to accomplish any or all of that? If no, invest it in the stock market, such as DIA or SPY.
If yes, put the amount you will need in the bank and save for when needed. If there is "extra", buy SPY or DIA.
Or, you can be like most of us, and blow it on a good time.
Keep it in the bank and live off of it .
If no other options I'll gladly relieve you of your burden.
So im 18 and i just got a social security disability check from my parents, and it turned out to be a lot more money than we were expecting. We will be going to the bank to maybe invest it. Im 18 and planning on going to community college, i own a car, and im currently looking for a job.
Does anyone have any advice on what i should do with it? Thank you!!
