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Finished high school 7 years ago. been working for 6 of them. first time i reached $10,000 in savings (25yo) (lemmy.world)

submitted 1 day ago by [email protected] to c/[email protected]

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Too embarassed to tell anyone I know IRL, but am excited for my new future. Been throwing alot of money with small things. PC, alcohol, movies (and im ashamed to say, funko pops). Recently i took the plunge and cut out alcohol in an attempt to get my life together, and i feel like i have a whole new start.

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[–] [email protected] 6 points 23 hours ago (6 children)

I hope you're not keeping that on your bank account. Make it work for you. I've put all my savings into diversified, low-cost index funds.

I recently reached a point that I could pay off my house if I wanted to. I'm really tempted to, but I think I'll just keep it invested.

[–] [email protected] 2 points 10 hours ago (1 children)

Eh...for a lot of people it makes more sense to keep your money in a high yield savings account instead.

[–] [email protected] 1 points 3 hours ago

For your emergency fund maybe but the interests are a lot higher when invested into something like S&P500. Failing to do so means leaving money on the table.

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