Re: When you have more money than you need
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Investments have been mentioned. I’m not a fan of IRA’s (Roth or otherwise) unless I have an employer who will allow pre-tax contributions and match funds. Yes, you should save for your retirement. The return may be decent. Compounding interest is even better. Problem is, in order to avoid taxes and penalties, you have to wait until retirement age (65 or better) to withdraw your money. Another problem is that most stock fund managers have terrible track records. If you choose this route, I would get a self-directed IRA and do some serious research. Sure, you could invest in an index fund, but the market’s current returns are anemic at best, and they’re not showing any signs of returning to historic market average any time soon.
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do not listen to this. at a bare minimum start a roth and secure your future. this will be your FUTURE.
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