https://i.imgur.com/BizepUM.png
I'm in my mid 20's. Throughout my adult life I was told to keep my money in a CD to let it grow safely. In july of this year I decided to take internet strangers' advice and put it in a high risk mutual fund which my bank happens to offer. All I know is that if I pull this money out I will be taxed heavily (I think?). I still keep a few thousand in a CD ladder so that I'll always have liquid money available in the near future.
About me:
* No kids
* No life
* Alone, no family, no relationships
* Over 5y in the military, will complete 20y for retirement
* No debt aside from truck ($900 per month)
* I own no property
* No addiction, no gambling, no alcohol, no nicotine, no drugs, no Starbucks, no avocado toast
* I got lucky with GameStop a few years ago and I stopped "trading"
What I've been told to do next:
* Keep the money in the MF, you're still young and can accept risk
* Buy a house with VA home loan (I'm scared and lost about it)
* Take it out and put it in a CD (but why?)
* Take it out and put it in a less risky place (I have TSP for that)
What should I do next? I don't want to buy a house
byu/QuiapoSotanghon inMilitaryFinance
Posted by QuiapoSotanghon
1 Comment
I mean If it’s a mutual fund then I would just continue and invest into it. Make sure to max out your TSP/Roth IRA accounts first and taxable brokerage last.
You’re doing great