re: WWYD if you were handed 50k

Contribute enough to 410k etc. to get full employer match

Pay off any debt w interest rate >6.5%

Max HSA

Max Roth IRA

6 month emergency fund

Set aside for any near/mid term expenses (car maintenance, home down payment, moving expenses etc) in next 5 years in a more stable investment HYSA or CDs.

Put the rest in a taxable brokerage

(Buy low expense ratio index ETFs in investment accounts, open IRA and taxable w Fidelity, Schwab or Vanguard for low fees)

Avoid anyone trying to sell you whole life insurance (or any life ins if you're single w no obligations) or trying to set you up with an assets under management or commission based financial advisor that will put you in high fee products.

Eta: post to money board for better results and ignore anyone saying invest more than 5% in single stocks or bitcoin

pay off my credit card debt, the remainder of my wife's school loans.

Buy a shitload of dog DNA test kits

quote:

---

Invest? Stocks? Buy rental property? What is the best way to grow your money right now? Young investor (20s).

---

I would have bought a lifted truck in my 20’s.

Now I would back door my Roth for 2024 and pay off my two cars.

~$27k on a Vacheron Constantin 4520, rest in my infant’s 529.

But actually, probably $10k to infant’s 529, ~$25k in brokerage / savings, rest for vacation money.

I would invest half of it in low risk mutual funds and then take the other half over to my friend Asadulah who works in securities.

Does the government know about it?

Will it ever?

If not...guns, ammo, gold and crypto

That's over the amount that would kick in the gift tax to the IRS.
Find out what the amount is this year and ask to receive that much this year and the same next year and the following year so your giver won't have to pay a tax.

That would so impress your giver that he might write you into his will.

quote:

---

Hookers.
Blow.

---

This is the only correct answer