I'd like to preface this by saying I have no experience with investing, so feel free to ELI5.
Background: 30F, single, living in the US, $42K job, 401K
I inherited a generous amount of money after a death in my family. I immediately paid off my student loans, medical bills, and (minor) credit card debt. I have $25K left. I plan to keep $10K as an emergency fund (this could easily cover 8 months of living expenses), but I'd like some advice on what to do with the rest of it ($15K). My goal is to eventually buy a house. I currently rent and am happy to do so for the next 3-5 years.
Short-term: I’d like to invest the $15K to use as a down payment on a house/condo. What kind of investments should I look into?
Long-term: I have a 401K through my job. I currently contribute 7%, which is more than the company match. Should I raise my contribution to that or should I get a second retirement fund?
I plan to talk to my parents’ financial advisor (he’s a good man, and thorough), but I wanted some input from this sub first. Thanks!
Submitted July 13, 2017 at 10:03PM by hunguscableco http://ift.tt/2tkB9K6
