Hi, /r/personalfinance. I have run into an unexplainably fortuitous circumstance and I would like some guidance on how to proceed.
A few weeks ago before I graduated from college, a lawyer at a reputable law firm emailed me indicating one of his clients had chosen me as the recipient for an "unrestricted gift." Suspicious, I forwarded the email to campus police and a detective investigated. It was legit. So I went in and was handed a check amounting to $25,000, with no explanation, and no strings attached. I have no idea who gave it to me or why. There is no limitation or provision on what I can do with it.
I put it in a savings account with my bank while I gave some thought as to what I want to do with it. Let me summarize my current financial situation and trajectory of my life. I have about $35,000 in student debt and close to $30,000 in college savings, so my debt will be relatively minimal and I should be able to pay off the remaining $5,000 over the next few months while I am living at home and working two part-time jobs (I plan to put most of my paychecks toward this figure). My financial obligations are virtually nonexistent other than my cell phone bill and miscellaneous personal expenses that don't add up to much due to my general thrift. My long term boyfriend is serving in the military but he will be done with his service within the next year or so, and after that, we are planning to move to Colorado together to start our lives.
I want to make the most of this incredible, surprising gift. Right now I am leaning toward a Vanguard account, plus a Roth or IRA. I am not financially illiterate but I have never dealt with investing before. Do you have any suggestions about how I can maximize returns on the $25k? Thank you all.
Submitted May 29, 2019 at 10:55AM by definitely_right http://bit.ly/30TusRd
