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!
The generic advice is diversify and invest in the riskiest options you can stomach when you are young. For me, that means low cap index funds.
Where do I get started if I want to do that? Is that through vanguard?
Yea vanguard is good I hear. I have a bank account with bank of america, so I use merrill. Chase has their own investment firm. Most large banks have bought one. Take your comfort where you find it with banks. I’m honestly not a fan.
There are also independent ones. I also have an account with tiaa, but that’s only for educators. You might find something tied to your industry as well.