Totally clueless with investing, $100k sitting in the bank earning 0.05%. How do I get started? Please advise. (lemmy.world)

submitted 3 months ago by nieceandtows@lemmy.world to c/personalfinance@lemmy.ml

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I have been putting part of my paycheck into a high yield savings account, but haven't bothered with investing it in a responsible manner partially due a fear of losing the money due to bad investments. I'm finally realizing how much potential money I've lost by letting my money stagnate. Please advise me on how to responsibly invest my money, thanks!

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[-] wuphysics87@lemmy.ml 2 points 3 months ago

Yea vanguard is good I hear. I have a bank account with bank of america, so I use merrill. Chase has their own investment firm. Most large banks have bought one. Take your comfort where you find it with banks. I'm honestly not a fan.

There are also independent ones. I also have an account with tiaa, but that's only for educators. You might find something tied to your industry as well.

this post was submitted on 05 Sep 2024

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