re: Buying vs Renting .

I'd recommend getting started with a Roth IRA, vanguard is the general suggestion due to their low fees and plentiful options. With the cash you have Id say go ahead and fund the entire 2016 $5500 contribution at once. If you're unfamiliar with a Roth IRA. It is an "Individual retirement account" that grows tax free. With that $5500 you'll have a variety of things you can invest in. If you want to keep it hands off, then just put it in an index fund and forget about it. Once you're ready to commit to doing this many people here can help steer you in the right direction on which index fund to invest in given your risk tolerance and goals.