My Dac died in 2012, I just received a check for $18,000 and some change. They withheld 20% for Federal Taxes so original is was around $20,000.
I may have to pay more taxes on it, income and state? I’m not sure, but I’ll see around tax time.
Anyways I’m wondering what I should do with the money for now. I’m 18 and have no investments currently. I’ve got about $11,000 in my Savings from my business and graduation gifts, currently untaxed.
I’d like to begin investing the money somewhere because I have no need for $18,000 currently. I don’t want to invest it into something which maybe locked for more than a few months at the moment because of taxes.
I was thinking of putting it in a 2% interest Savings Account, but I’m curious if there’s better options?
Additionally, after January, I’m looking more so for longer term investments. I’d like it to be ask risky as possible in hopes of the highest return, but I don’t know if that’s the best idea.
Anyways, I feel bad asking for free advice, but if you have anything to pitch on to my situation, it’s appreciated!
Submitted November 02, 2019 at 07:43PM by MonzterSlayer https://ift.tt/329d3TO
