What to do with your first 10k?

1 Reply

Isaac, I'll give my opinion (I am not a financial advisor). I am in my late 20s now but wish I would have started my Roth IRA in my late teens. I would use $5,500 of your $10K to create a Roth IRA and start investing toward your future (you'll have to do your own research on which mutual funds, ETFs, stocks, etc. you'd like to hold in your Roth IRA. If you're looking more in terms of real estate investing, I would advise you to first educate yourself while continuing to accumulate more savings. Although $10K may be enough to get started on a low-down payment loan in your market, you'll need reserves for repairs and maintenance after you purchase, so it would be better to pad that savings account.

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