Anonymous

11 Apr 2021

∙

What should I do with $20k? Invest or put into savings plan?

Hi all, I have about $20,000 that I would like to put away somewhere that can give me the best or safest rates. I will not need this sum of money in the next few years. I have not invested before but am very much looking to put this money somewhere that can grow. I would prefer to be able to one shot use all the money and not be bought into a plan that is paid monthly. I have talked to a financial agent but I’m not too sure if what she has is truly what I want. Thanks heaps.

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JeffreyLeeZQ

11 Apr 2021

Writer at Jeffreyleezq.com

If you are looking at investing, you can consider the following:

Passive Index ETFs,
Robo-Investors;
Regular Savings Plans

I personally recommend the first one option since it has the lowest cost.

You would also want to consider between Growth investing and Dividend investing as both are different forms of wealth accumulation. If you are interested you can check out an article I wrote previously here about their differences: Growth Investing or Dividend Investing?

Cheers! :)

- Jeffrey (jeffreyleezq.com)

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Tinexxxx

10 Apr 2021

I will invest the money! :)

Some in Robo-Advisors, some in stocks, some in high yield savings account/savings plan! :)

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1M45

10 Apr 2021

Open a brokerage account. Buy an S&P500 ETF....

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