Looking for advice on my first investment

Question

I am 32 years old and single, looking for some advice on what I can do with about $10k for my first investment. I currently just have it sitting in the bank and would prefer to use some type of investment vehicle to grow my savings and begin planning for the future.

I have no debt, this is more long term so access to the funds is not important as important as long term gains and I know very little about investments to be frank.

I live in the USA.

Any suggestions? Thanks in advance!

Too broad a question. What are your goals? Do you have any debts? When will you need the money? What do you know about investing so far? etc. Please provide more detail. — Chris W. Rea, Mar 27 '16 at 13:25
A savings account is an investment vehicle. It might not be the one that earns the greatest returns, but on the other hand it is very secure (you are virtually guaranteed return of the entire principal plus accrued interest). — user, Mar 27 '16 at 14:14
You may want to check out 21 years old and saved up $20,000 from working. What should I do with it? and Tips for a 21 year old on looking to invest. — user, Mar 27 '16 at 14:16

score -3 · Answer 1 · answered Mar 27 '16 at 18:15

-3

Buy a home. A home is the first and best investment, u can own a home with as little as 3% down and as u pay for your living u pay it off.....also banks will always give you equity loans in case you need your money

answered Mar 27 '16 at 18:15

gedankluz

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I think a home is not a very good "investment", since I have heard that it has, historically, only grown at a rate equal to inflation. I think the OP would be much better off investing in a low-cost index fund, such as the Vanguard 500 index fund, since it follows the S&P 500, and the S&P 500 grows, on average, 10% a year. – Kelsey Mar 27 '16 at 18:18
the money u invest in a home on monthly basis is money u anyway spend for housing, so instead of throwing out every month $2000 or so for housing, u will be earning in equity like a $1000 a month which is 10% of your investment monthly and 120% yearly....... – gedankluz Mar 27 '16 at 18:31
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See many other answers. A house you are living in is housing, not investment. There are significant disadvantages to being a homeowner, especially early in one's career when mobility may be essential. Outside of overheated housing markets, renting and investing the difference may do as well as, or better than, buying. The time to buy a house is when you will be in one place for at least five years, have enough savings to make at least a 20% down payment without trying up too much of your capital in the house, and will actively enjoy living in a house despite its hassles. Not before. – keshlam Mar 27 '16 at 22:16

Looking for advice on my first investment

1 Answers1