What to do with $10,000
I have managed to squirrel away $10,000 in the past year and need advice on where to put it. I do have a Roth IRA with Fidelity. I am clueless.
Terry Says
Whew, I have no idea how old you are, whether you are still working or might need this money in an emergency. But congrats on saving this much. Generally speaking, the very first step is to pay down ANY and all credit card debt. The interest rate on credit cards is much higher than you could earn in a bank.
If you would please write back to the email you receive saying “your question has been answered” and explain the rest of your situation, I could give you some better direction.
How old are you?
Do you have any other savings?
Are you currently working?
What do you think you might need this money for — and how soon? (so do you want to buy a home, retire sooner, whatever??)
Do you have a retirement plan at work, other than your Roth IRA?
