I'm currently a 25 year-old college dropout with a highschool diploma and no other certifications to speak of, during the pandemic I managed to land a position as an Emergency Developmental Services Worker making just over 22$ an hour. I didn't save as much as I should have but a shit ton of overtime combined with living at home managed to put as of this moment $37,400 in my savings and $6,600 in my checking, upcoming major expenses include 800 dollars for a wedding that i am being voluntold to attend in Florida, and i am considering enrolling in a LPN program in the winter which could run up as much as $10,000. My experience with the state has been a mixed bag to say the least and they have made it clear that I will not be allowed to simply enroll in training to transition from EDSW to a permanent position as a DSW1, so I put in an application for a part-time position (17.5 hours) which I have not heard back from yet (apparently even though I have not gotten a call back the Case Manager has already signed me up for PMT training and told me that I will be able to work overtime at other locations soon*, which at least is a strong indication that I will make it). I recently had a bit of an existential crisis and have started considering what I've been doing and where I will be going, and I want to take advantage of the money I have saved up while things are relatively stable. I can stay with my parents for at least 1.5 years before I need to look for an apartment, and as my position is with the state I will have medical insurance either as long as the Emergency position lasts or when I get hired. I would like to begin investing but I have a terminal case of stupidity and have no knowledge of the stock market combined with very bad focus when it comes to managing things long-term, and browsing through Investopedia it mentioned brokers who allow you to "set it and forget it". So:
Which broker should I contact to set up an account for low-risk investment?
How much should my initial commitment be?
Would I be better off committing a large sum to a full-service broker?
What kind of retirement account would be best to establish at this point in my life?
And finally what other steps should I take to ensure my financial future?
Submitted July 18, 2021 at 05:11AM by roadrunner036 https://ift.tt/2VLNjzk
