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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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[–] jeffw@lemmy.world 1 points 2 months ago* (last edited 2 months ago)

If you have a HYS, there is no reason to have 100k in an account earning .05%.

Like others have said, everything else depends on your risk tolerance. If you’re young, you should have more in higher risk stuff (stocks, etc.). Even if you have a big loss, you can earn it back.

Whatever you don’t need liquid and whatever isn’t in high-risk investments can go into stuff like bonds and CDs