I have never had enough money to think about putting it anywhere besides a basic savings account. I recently came into a somewhat sizeable amount of money ($300k+) due to some family inheritance and life insurance. I don't need to touch almost any of the money right now; I can support myself on my current income and am not seeking to change my lifestyle.
I would like to be smart about where to put the money. I'm hoping to keep some (around $10-$50k) moderately accessible for paying debts, emergencies, etc, but I'd like to put the rest away until I retire (I'm 22, let's say I want to retire at 52,). Hoping to grow that money significantly in 30 years, but also not looking for huge risk investments, at least for the major chunk of the money. Would be open in taking a few thousand to put into high risk investments, mostly out of interest/ya never know.
I'm looking for advice on a few things:
-I have essentially zero finance literacy. What are the best resources for someone to educate themselves about wealth management so I can make my own educated decisions about this stuff? I'm willing to put in quite a bit of time to learn how to take care of this.
-Is it worth hiring a financial advisor to help me manage this stuff? Or would an automated service like Wealthfront suffice?
-Any tips right off the bat of investment opportunities/what I should do?
Thanks!
Submitted August 31, 2017 at 01:58PM by helpimsuddenlyrich http://ift.tt/2vIJjxT
