Re: What would you with $20K?
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I'm 25 yrs old, with no debt and no real "plan" for this money.
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Well your first goal should be to "Create a Financial Plan"... and your first step toward achieving that goal should be to understand what a Financial Plan is and why its important. You can accomplish that by reading some books, and/or paying a visit to a Financial Planner.
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I'm just in the fortunate situation of having this extra money, and wanted to know what some more seasoned investors would do with it in my situation.
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What a seasoned investor would do with their money wont help you, as you may have a very different risk/reward profile.
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I've never invested before and was just hoping for some helpful pointers towards a relatively safe solution for my money.
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The safest most proactive step you can take beyond educating yourself, would be to open an Emigrantdirect or ING savings account... which would earn you about 4% on your money!
Once you have put together a financial plan and given consideration to your risk tolerance, then you could start allocating to other investments with potentially higher returns.
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