I'm looking for the best place to put my money that will generate income to offset monthly costs. I'm 24 YO and have about $75,000 in savings. $20k is in the S&P500, $15k is in an I-Bond, and $40,000 is in my savings account. I hate having so much money in a savings account that is only getting around .05% interest. I'm wondering if there's a better place for me to put it where it can generate income to offset my monthly expenses. This could be a HYSA, but I was thinking more so some sort of equity or dividend-paying stock (or even an REIT or something like Fundrise). The caveat would be that it would have to be fairly liquid, and I want to be fairly risk averse with this part of my savings that isn't just in my bank account. Essentially, I just am looking for a second place to hold my money that would give me a greater return than a traditional bank account. TIA.
Submitted April 10, 2022 at 02:43AM by mysterious_72727 https://ift.tt/KZ4k3I5
