Hey everyone, I just graduated from college in June and I want to save up some money for the future. I have about $20,000 right now saved up from my current job and previous savings. It is in a 5.46% CD right now and should be expiring in a few months. I was wondering, what is the best way to save/invest for someone like me? I try to save at least $1,000 every month and put it in a savings account. The low %'s just aren't doing that much for me and I don't know that much about mutual funds. Any thoughts?
1. Quit saving "for the future". Save for specific events - getting a house, retirement, etc. 2. Don't use a savings account. Money market funds are just as liquid and will give you near-CD rates. 3. See if you can get a mutual fund at your work. Definitely get into a 401K, especially if your employer matches. 4. The fact that you are saving $12K a year says that you're living well within your means. That's the first law of finance!
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