Everything is in the title. Dont know anything about stocks.
20k in savings, no debts other than car loan, 401k on track, emergency fund good for 6-8 months of expenses. Where should I stick the 20k? Do really need to stay liquid with it.
byu/lilsky07 inpersonalfinance
Posted by lilsky07
12 Comments
Honestly sounds like you’re in a solid spot – I’d probably throw most of it into a boring index fund like VTI or VTSAX and maybe keep like 2-3k extra liquid just in case. You don’t need to be a stock genius, just buy the whole market and chill
Do you have more retirement savings besides the 401k?
Flowchart!
What’s the rate on the car loan? Look at the flow chart in the wiki. Keep 3-6 months in a HYSA. Next step after paying high and moderate interest debts would be a Roth or traditional IRA.
Start here: https://www.reddit.com/r/personalfinance/wiki/commontopics.
Yield chasing and your emergrncy fund: https://old.reddit.com/r/personalfinance/comments/ttwbma/_/i30b533
Focus on paying off the car/Roth IRA. What’s the interest rate/length of time on the car?
Use 25% to pay off a chunk of your car loan and park the remaining fifteen in any account that can give you 4% interest reliably without risk
Why do you need to stay liquid with it? That makes me think it might be for a specific expense. That could change what investment is appropriate.
Build your Roth and cds. These will be the non taxable funds you will use until you can use your 401k.
You should stick it on that car loan and pay it off
What’s the interest rate on the car loan? How much is left?
Everything is not in the title lol
You don’t invest with money you need liquid. Put it in a high yield??