Totally clueless with investing, $100k sitting in the bank earning 0.05%. How do I get started? Please advise. (lemmy.world)

submitted 2 months ago by nieceandtows@lemmy.world to c/personalfinance@lemmy.ml

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I have been putting part of my paycheck into a high yield savings account, but haven't bothered with investing it in a responsible manner partially due a fear of losing the money due to bad investments. I'm finally realizing how much potential money I've lost by letting my money stagnate. Please advise me on how to responsibly invest my money, thanks!

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[-] workerONE@lemmy.world 3 points 2 months ago* (last edited 2 months ago)

If you open an account with vanguard you can choose to have your money automatically put in a money market account earning 5% like this one https://investor.vanguard.com/investment-products/mutual-funds/profile/vmfxx

Or Schwab has SNSXX https://www.schwabassetmanagement.com/products/snsxx but you need to buy it manually

this post was submitted on 05 Sep 2024

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