Saving money the right way ??

[Bolo018]

I need help from you 6 figure financial gurus on here brehs

Long story short im trynna save hella bread in within the next 3 years. Like saving 2k a month type shyt with no use for it whatsoever. The problem i have is that i'm not all that savvy when it comes to where i should keep that money. Currently in savings right now. I used to fukk with certificates that gave me like 3% APY but i want to try something a little more aggressive but rather safe.

FYI: No i ain't trynna jump or ride the crypto wave. And no, i won't be touching any of that money for the next 3 years. Also, already got a TSP goin for retirement, so no need for that.

 

[Hawaiian Punch]

Stocks breh. Download the robinhood app and start investing. I would keep it simple and invest in stuff you use, like amazon, Netflix, Nike, etc.

Good thing with stocks is the money is liquid. Just diversify so you can manage losses.

 

[Macallik86]

Vanguard Funds are usually the best bet for quick diversification and low expense ratios. No commissions if you open an account with Vanguard to invest as well. Here is some cliff notes from the Personal Finance SubReddit:

It is the general philosophy of the /r/personalfinance community that the best approach to investing, especially for beginners, takes advantage of diversified funds of stocks and bonds. Instead of purchasing shares of specific companies (like Coke), you buy into mutual funds or exchange traded funds, which in turn own hundreds or thousands of companies. In this way, you get the upside benefit of the general trend of stock markets to go up, and eliminate the extreme volatility and risk that can come with holding single stocks. Good brokers to purchase shares of index funds from include Vanguard, Fidelity, and Charles Schwab.

Source: investing - personalfinance

 

[Tr0yTV]

36k in 3 yrs your goal should be 36k/mo.

Read The Millionaire Fastlane then tell us what to do with our money.

 

[Bolo018]

Stocks breh. Download the robinhood app and start investing. I would keep it simple and invest in stuff you use, like amazon, Netflix, Nike, etc.

Good thing with stocks is the money is liquid. Just diversify so you can manage losses.

I just did some research and downloaded robinhood. Thanks for oop breh pos rep'd

Vanguard Funds are usually the best bet for quick diversification and low expense ratios. No commissions if you open an account with Vanguard to invest as well. Here is some cliff notes from the Personal Finance SubReddit:

Source: investing - personalfinance

Thinking about using Vanguard as well to diversify them more. Not really trynna be watching my gains and losses 24/7 so it seems like a good idea.
+pos rep.

36k in 3 yrs your goal should be 36k/mo.

Read The Millionaire Fastlane then tell us what to do with our money.

can you not read? or can you not do math? Or both?

 

[Tr0yTV]

You seem like a 50 percenter so I used half ur goal


All bullshyt aside. The best ROI is from a business you own that fills a need.

If u still want to do stocks, I recommend an S&P 500 Index Fund.

 

[NeilCartwright]

Robinhood has been good to me. Match.com stock has been killing it lately and i have a good feeling about Twitter as well.

If you play it right its not unrealistic to see 30% returns for the money you put in yearly