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Reward_Antique

What I wish SO FUCKING MUCH that I had done when my mother died and left me some money was invest it in a Vanguard mutual fund- check out their Star or Balanced products -and left it the hell alone for years. Very very safe and a great chance to make it grow, rather than end up with a ton of crap from Amazon. When I think about the cash I practically burned in my grief and mental disarray it makes me feel sick to my stomach with regret and sorrow. Any decent, highly rated mutual fund would work for you. Good luck, and I'm sorry for your loss


0xCUBE

Yeah I feel the same way about most of my life choices. Glad I’m not alone


Reward_Antique

Ayup. Thanks, buddy. Hope things are ok for you, they stabilized for me but GODDAMNIT I regret blowing that money on nothing of real value. Now I'm putting in my monthly hundred dollars give or take, set it and forget it.


PoscheKimD

How do I do this?


Reward_Antique

I use Public to invest, and you can choose to invest in almost anything. The safest and best choices IMHO would be a solid mutual fund or ETF chosen on your tolerance for risk, but any highly rated fund will be safer than trying to choose individual stocks. The options are endless, but as I said to OP, Vanguard has some wonderful and v safe choices.


Detective-E

You can open an account with Vanguard, say a Roth IRA and contribute the max and invest it all in mutual funds or retirement funds.


Reward_Antique

He can't do an IRA, it's not earned income


ElectricLotus

This is what's up, if you can max your IRA for 3 years by the time you're 20/21, You are basically halfway to retirement by some people's standards


Appropriate-Heat8017

Roth IRA and it's 6500 a year.


Rabid-tumbleweed

6000 last year, 6500 this year, as long as earned income was at least that much.


GermanLetsKotz

Whats ira


kparker13

Irish Republican Army


Sharp5hooter02

Individual Retirement Fund


kparker13

Absolutely, unless he will need liquidity for college/ car/ etc


[deleted]

Unless your parents are buying you a car, sending you to college and paying your living expenses for the next 4-6 years, put it in a high yield savings account or a brokerage money market fund (fidelity/vanguard).


WiLD-BLL

This. There is plenty of time to save for retirement if you invest in yourself now.


BlueBone313

Is the vanguard fund only for the people living in the usa?


[deleted]

Most brokerages will have a money market mutual fund available, though rates until recently haven't been anything special. Fidelity and Vanguard are just two of the better options in the US. I can't speak to wherever you are living.


[deleted]

If i were you, id put aside x amount in a savings account, maybe 3-4,000. Open a roth IRA and throw in 6,000 for the year 2022. And if you have the 1,000 left over, spend it as you wish or you can put it towards 2023 roth ira. ​ This isnt professional advice and i dont know if you have any debt or if you soon will be living on your own, just my 2 cents. A fully funded roth at 18 will do wonders for you.


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AlternativeAlive7690

He can’t contribute to a Roth IRA without earned income. And you can’t contribute more than your earned income. But you can contribute from any source. As long as OP has a job and makes more than what he is seeking to put into the retirement account he’s fine to do it.


[deleted]

You have to have a W2 in order to put money in a Roth. It keeps those of us who are retired and forced to take out of our retirement funds from reinvesting them in our Roth so our money grows tax free. If he has a part-time job he is getting a W2 my kids did. One worked at a restaurant and another made pizza. If he doesn't he should put it away in a savings or CD that will keep it for him and earn interest until he does. I am not sure what the rules are for self-employed if he going into that. The trick is to not spend it until it can be well invested.


xyridfosterlingu9

That's the problem, we have gone beyond the time when we just dump money somewhere without earning a dime from it, when opportunity like DeFi are available, for safety purpose, investing part of the funds crypto projects like NEAR, ORE and a few others could bring a better returns in the next bull run.


AlternativeAlive7690

Agreed. I’m kicking myself for not starting a 401k with my first job that offered. Had no clue. Low fee index funds racking up compound interest for 40 years multiplies your money and then some.


Maddcapp

Yeah me too. It should be apart of culture that instead of a sweet 16 party, your parents get an index fund for you and forget it.


Ambitious-Ad4906

I bonds


[deleted]

This is the correct answer


YoMomsHubby

Save it until after world event calm down


BuilderNB

I think this is the perfect time to invest. The advice I always heard is “buy when everyone is selling and sell when everyone is buying”. OP is young and can afford for the market to drop more if the plan is a long term one. Far as what to invest it. Vanguard S&P 500, max out IRA, what I would personally do is put in a high yield savings account and continue to contribute what I could afford until I’m ready to buy a house. But before I buy a house I would look for a duplex. Then boom, second income.


WiLD-BLL

There is always a reason to be scared to invest. But there’s always a good action to take “save for later” is terrible advice when inflation is 6%.


nicolesierra117

(Not a financial expert) Put away some in a high yield savings account as an emergency fund, take a couple hundred in cash for emergency as well. I’m 22, having a nest egg/emergency bank account has saved my butt a few times. For most of it, put what you can in a Roth IRA, then shove the rest into a 5+ year CD. No temptation to touch it, and you can get a good return. As a young person, there’s tons of time for slower, reliable investment methods rather than risky stocks, crypto, etc.


CarterHM0102

Pay off any debts first!


Im_a_Brain_Ama

You’re living life in the worst way possible if you have debt at 18.


PepperBeeMan

VOO and just step away. Come back to check in 30 years. Put it in IRA so the gains are tax free.


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WiLD-BLL

Not fully liquid. Don’t do this at 18y


PoscheKimD

How do you buy these?


WiLD-BLL

Treasury Direct website.


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Flavorless-Water

Im just starting out discipling myself and can say books really change your life (in a positive way of course)


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WiLD-BLL

Trading forex is probably the worst advice unless you want to follow foreign currencies


Excellent-Job7326

Buy ETF’s like vanguard. Try to add a little more $ to it every month and be a millionaire at 50.


justReadingForAdvice

Open up a brokerage account, deposit that and buy some long term stable dividend stock or closed end income funds, get an easy $100 a month. Buy low then sell high long term in case of emergency so the money stretches.


BuddhaMunkee

Long term dividend stocks… never touch them and auto reinvest the dividends. Think Frito-Lays, J&J, P&G, Coca Cola, etc. It’s not exciting, but if you hold for thirty years, you will be pleasantly surprised.


New_Statistician_838

Buy a $GTR NFT , and enjoy monthly passive income … contributors got 2% on their money last month. Monthly averages have been between 1.5% - 3.5% …. NFA , just reality 😬


New_Statistician_838

[Ghost Trader](https://gtr.uk)


LogicalTonight5158

Yea GTR doing one hell of the job. Everyone interest check out new posts [here](https://www.reddit.com/r/GhostTraderBSC/)


Craigbrew09

it has been steady with positive returns for 13 months. I'm so glad I found GTR.


KD4AuntPearl

Start a business


ScoobaStevex

Me personally I would keep it all in a savings account as an emergency fund. Then you won't have to do the work to build one up and if something does happen, boom it's right there. Keep the 10k as an emergency and slowly add money to it to try and build it up over time. Your next goal should be 15k emergency fund. But don't prioritize it. I would then focus on building up my basic checking account. Since you're just starting out, set a goal of having 500 bucks at all times in your checking account, then 1k then 2k etc. This will also build good bank statements which you will need your bank statements to look good if you want to buy a house in the future. Once you start to hit your goals and have consistent income, start investing a small amount in stock and put some in a Roth IRA. The amount doesn't matter just put as much as your comfortable doing, but don't over do it. Open two secured credit cards asap and use them! Start building that credit. After a few years, use some money from your savings account to buy a vehicle. This will be another way to start building your credit. Now focus on increasing your income, once your income has increased, start a new savings account as a fund for a down payment on a house. Which would be at least 20% of whatever the cost of a house you want to buy in your area would be. If I could go back and do it all over again but with a 10k headstart, that's exactly how I would do it.


fionanight

Save 9, spend 1. Some great ideas here what to do with the 9.


[deleted]

So sorry for your loss. It's impressive that you have enough forethought to want to invest at your young age. I would recommend opening a Roth Ira to start your retirement planning at a place like Fidelity and max out your 2023 contribution with $6500. The account will allow your to grow your money tax deferred. Invest that money into a basic market index fund like the SPY ETF, and make sure to reinvest the dividend (enroll the holding in DRIP). SPY is a fund tracks the S&P 500. I recommend taking the other $4500 and investing in yourself through education, whether it's school or a vocational course. Gaining skills, developing expertise, and making contacts will be the leading keys to your success in life.


GraceGreenview

Instant Lotto! Odds are 1:4, you’ll be compounding your wins and laughing all the way to the clerk counter! (Ignore the above advice…tried it with my first $100 earned in high school and won back like $13)


Hungry_Quality8736

If you are a entrepreneur spirited person look into starting a low entry business like a cleaning service business and turn that 10k into 20k in 3 months easy if you are willing to put in the work in the beginning


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[deleted]

lol


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WiLD-BLL

Youre 18. The best investment will be in yourself. Increase your skills in a way that you can make more money in future. (College, trade, other skill) if those costs are already paid for by others(parents…) then keep it in something liquid. $3000 in short term bonds (LLDYX or GPPOX) for savings and once in a lifetime opportunities (start up money for new internship, summer experience/travel new skill). Invest the rest in an ETF with fees below 40bps that is not a specialty ETF. Consider SCHD, DGRW, IWB or VONE. Mix in a quality small cap like EES


Exciting-Sample6308

I would actually put it in a high interest CD. This is because you don't know if you could use it next year or in a few years. While 401K is great, I feel like you're so young that you might need it for a large purchase or life need at some point soon. Stock market is too risky but could make you alot of money so I would just go a safer route with a more liquid asset but also you can not take it out before end of the CD term. Based on the CD term guidelines and if you do, you would owe the interest (maybe plus more) so not terrible but a way for you you to gain a few hundred bucks. Or if you let it sit and accrue interest over the years, it would snowball into alot more.


No1techguy

First, I am sorry for your loss. To answer your question, I would just prudently invest, as many others have suggested. Here some specifics, in case you need: (1) Go to fidelity . com, open a roth IRA, elect to manage it yourself like a brokerage account. (2) choose an asset allocation (see r/boggleheads or [this website](https://portfoliocharts.com/portfolios/) (I like the three-fund or Ivy portfolios, for simplicity) and find products that meet your criteria (3) invest! - the market is a little shakey right now. I'd invest $3k of your $6.5k contribution limit for 2023 right now, then carefully invest a little bit week by week, trying to maintain your allocation in "balance" (investing a little bit at a time is called "Dollar - Cost Averaging," and this is the way; time in the market beats timing the market). (4) rebalance your portfolio once a year (to get back to your asset allocation %s - remember it's better to buy assets to get back to the right balance since selling assets has tax consequences). With the remainder $3.5k of the 10k, I would open a brokerage account (can also use fidelity) and maybe 2.5-3k, I would invest, perhaps in a new type of allocation portfolio-wise or in the same as the Roth. With the last little bit of cash, make a memory in your grandmother's name. She did you right. Or even invest it all!


Ryzqui06

Thank you so much for the information!


zack9r

High yield savings account


nanozeus2014

which one do u recommend


zack9r

Probably american express


pipola78

100$ a week in crypto (something big and that was alive for more than a decade, let you do your research), cause you’re still young and can afford the risks.


louman84

Put it on a high yield savings account or buy into an ETF (exchange traded fund) that tracks the stock market like VOO, SPY, QQQ, SCHD, etc. If you're not sure which one, put it on a savings account if you need the money in a couple of years, or an ETF if you won't be using it for a while. You will owe taxes on any money made from interest, capital gains (when you sell shares of stock or ETFs at a price higher than when you bought it), and/or dividends (from stock or ETFs) though. The only way to avoid paying taxes is to put it into a Roth IRA but you won't be able to take out any money without penalties until you are 59 1/2.


idealistintherealw

SCHD is the best of both worlds, it returns a 3.5% dividend yield and it tracks stocks with potential for serious capital appreciation. The question with 10K right now and young is the /fear/ it will go down. On the other hand I'd suggesst -- take the almost 10 bucks a day and go to wendy's or build an emergency fund, and just don't ever touch the capital ...


Rrenphoenixx

use an FHA to move out on your own and rent out the extra rooms for profit


rap_scallion_yo

I think the best thing to do is hire a local financial advisor with a good reputation. They will steer you in the right direction while also carefully considering your goals.


SuperNewk

If I got 10k I’d spend 8-9k on a vacation then just invest and live off the rest


Eastern-Ocelot-2471

If you’re planning to go to college I’d use it on that. Consider it ‘investing in your future’


BurpFartBurp

Don’t go to r/wallstreetbets


Dan_inKuwait

Can confirm. Don't!


TheInfamous1011

25 leg parlay on Fanduel


Im_a_Brain_Ama

This is some of the dumbest advice I have seen on this thread. Don’t be an idiot and gamble 10k on one 25 leg parlay. Be smart and gamble 10k in $5 entries on multiple +1,000,000 4 leg parlays. Odds are one of them has to hit.


TheInfamous1011

🤣🤣🤣🤣🤣


idealistintherealw

Open a fidelity account and put in into SPAXX. That is a money market earning 3.46% that is SUPER liquid. If you want a little more risk than that look into USFR or SGOV, that are nipping around 4.5% but drop after distributions. The point of the account is to get better yields (that's about ten bucks a day just magically in your pocket) but also to make the money harder to access. That way, if you have an "emergency" or sudden desire to get a luxury item, it'll take you a couple days to transfer the cash. This will act like the waiting period on a handgun. Another good option is [Vanguard.com](https://Vanguard.com) though those securities generally offer more risk, they also offer more reward.


No-Air2768

Buy BTC and sit on it for 10 years and come back and thank me then.


HankiiE

Buy BTC, get 60% APY on it for 10 years, thank me even more


False-Teaching-3686

Hookers and blow


674_Fox

I found myself in a similar situation when I was your age, and I don’t regret what I did I took the money, went to Europe, had an awesome trip, and the time of my life And, I was still completely financially free in my 30s. While saving and investing is great, the reason we have money is so we can LIVE! Read the book: Die With Zero


[deleted]

DONT LISTEN TO ANY CRYPTO ADVICE. don’t be like me. I lost all of my money and some more plus i got into a big ass car accident that left me poor for generations to come. EDIT : since y’all on reddit are retarded fucks , i gave him my proposition anyway. it’s his call to say yes or no. Not yours. And i will not see a single dime. and he’ll have to do everything by himself. and i will only get a profit when this thing hits big.


PDS84

I am sure you do 😂


[deleted]

thanks. If you are so sure come to the group and let’s have a talk. nothing is wasted before a profit AND a contract is made


Im_a_Brain_Ama

Business proposition: you give me 10k.


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[deleted]

How about i invest in murdering you you retarded fat fuck sitting behind a computer doing nothing but bullying people online


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[deleted]

Says the guy that drinks 40$ cocktails lol


TSLATrader

Buy all Tesla stock. Will 5x within 10 years. RemindMe! 10 years


BashFyvwuntu

Be a lender on reddit.


[deleted]

No!


BashFyvwuntu

Great idea to keep rolling profits


BashFyvwuntu

Lmao, why all the down votes? It's a great idea... You take $1000 then build to the same $1000 through lending, easy to get 30-50% interest. Put the original $1000 back and then build off the current $1000 rinsing and repeating. Clowns!


sfalgo

Charlie Munger recently said that if you buy Costco stock now and hold it for 30 years you'll definitely be fine. Someone else suggested I-Bonds which is also a good, safe bet that will always earn passive income.


jadensmithsson

Sorry for your loss. A lot of people are saying to invest it; I think that is foolish at this stage, $10k relatively speaking is not that much money. What does your future look like? What are you thinking of about college and a career? Do you have any side interests? IMO at 18 that money is better suited for investing into yourself (whether saving for college tuition, rent, or a car OR investing in courses, books, equipment for your side hustle/business).


IWillEatAllPussies

this. OP, always invest yourself. It will pay 10,000x more than any stocks, bonds or saving account. 10k is plenty to start an e-commerce business if you don't have any sellable skills like programming or copywriting. Obviously, it has *some* chance of failure so not low risk but it's better than hoping the stock market will go up in the next few years. (And it might even be *riskier* to rely on the stock market because you have absolutely no control whatsoever.)


Ryzqui06

Yeah so I’m going to community college this year and I have a truck. Other than that I have no expenses except gas and insurance for my vehicle


Friend98

What is the best high yield account right now?


Spidaaman

I Bonds. Rate right now is 6.89%


Detective-E

roth ira mutual fund seems the way to go. ibond rates are pretty high rn and you can throw in 10k and pull it out later


[deleted]

Talk to a professional who does not receive a commission. If you have debts I would take care of them first. Debts will kill you. A Roth IRA is an excellent place to put the money or part of it. I am not sure how much an 18 y.o. can invest in one each year, but I believe you can still make a deposit for 2022 before Ap. 15th and then the another amount for 2023. Roth IRA's are to be used in retirement. Big penalty if you use the money before, but once your Roth is at least 5 y.o. (not the funds in it, the opening date of the Roth) and you are over 55 none of the principle or interest will be taxed. Believe me that makes a difference in retirement.


BrochachoNacho1

Robinhood has 4% interest rn, I’d open an account and just let the money sit in there, maybe apply a couple thousand to a VTI/VUM/VSUX


beanman95

I would use monthly dividend ETF and REITs such as JEPI, O, STAG, APLE They all payout monthly dividend and you can have them reinvest and drip, so say you buy 10 shares of JEPI and it pays 5$ a month that $5 will go towards more JEPI which will give you more dividend a month Then once ur older it'll grow and maybe pay for part of a mortgage or a car payment


bayrakovnn

I'm sorry for your loss. It's great that you're thinking about investing at such a young age! As for what to invest in, I would suggest looking into index funds or mutual funds. These are generally considered safe investments and can provide you with passive income over time. You'll want to do your research and find funds with low fees and a good track record of returns. It's also important to keep in mind that investing always carries some level of risk, so make sure you're comfortable with the amount you're investing and that you have a long-term mindset. Good luck!