What to do with 90k

SAP / Eng
FAANGM$A

Go to company page SAP Eng

FAANGM$A
Mar 10 30 Comments

Some context, I'm currently an intern at sap and have about 60k total in cash (once i finish my internship ill have around 90k total). I was wondering what can i do with this money, like I don't know enough about stocks to just blindly buy a stock, and pray for it to go up (plus I have yet to take any upper year stat courses). So lets hear your suggestions

If you want to know how I have 60k at my age (20) you can thank my parents for putting away money in a savings account that compounded over time.

edit: oh also school is payed for, that's not something i need to worry about

#investment #money #advice #tech #invest #investments #personalfinance #investments

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TOP 30 Comments
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    • Amazon
      uramoon

      Go to company page Amazon

      uramoon
      Lol this guy doesn’t know what he’s talking about. OP the truth is making money in market is hard and people confuse luck with skill. Hire a fee based financial advisor with a track record extending over 20 years with understanding of financial history. This is very important. You need to know that they can help you navigate through all kinds of scenarios. Not just past 20 so years of unlimited Fed induced liquidity.
      Mar 10
    • Amazon
      uramoon

      Go to company page Amazon

      uramoon
      Modelling is a recipe for being precisely wrong. People spend hours projecting prices and all sorts of BS and you change one false assumption and their whole model blows up
      Mar 10
  • PayPal
    aaaaabbbbb

    Go to company page PayPal

    aaaaabbbbb
    Take Warren Buffet’s advice and put it in SPY.
    Mar 10 2
    • SAP / Eng
      FAANGM$A

      Go to company page SAP Eng

      FAANGM$A
      OP
      I don’t fully understand the math behind Leveraged ETFS and from the looks of it seems like it’s risk to reward ratio doesn’t really add up
      Mar 10
    • PayPal
      aaaaabbbbb

      Go to company page PayPal

      aaaaabbbbb
      SPY is not a leveraged ETF. I’ve done some math on leveraged ETFs, and consider them toxic.
      Mar 10
  • New / Eng
    byte me;

    New Eng

    byte me;
    Wait until inflation / war settles down, then buy stocks or index funds
    Mar 10 2
  • Voo or vti
    Mar 10 0
  • 1) Send your mom flowers and a nice thank you card. 2) Open and max out Roth IRAs for 2021 & 2022 (if you’re a US citizen. I don’t think that applies if you’re not—but I could be wrong) 3) If you’re getting money from your parents for college, consider making their burden a bit lighter. If you’re in an internship & on Blind, then you’re probably about 21. It good for you to take some responsibility. This is ESPECIALLY true if you have siblings. 4) Save it. That first year after college is going to be expensive and you will need cash. 5) If the money is burning a hole in your pocket & begging you to spend it, the put it into treasury bonds or some other type of CD to keep it safe from impulsive purchases. 6) Don’t take financial advice from random people on the internet. The market is volatile and even the experts are trying to figure it out.
    Mar 10 4