New To Letting My Money Work For Me

[Mike Gotti]

So I’m 21 years old in the navy and just passed my one year mark. I have about $30,000 saved up right now. About $20,000 in a money market savings @.80% and $3,000 in a cert @3.44% (max balance is $3,000). The rest is in my checkings. What are better option to use my money to earn money. Want to have it available in the next 4-5 years.

[Jonathan Lyford]

Hi,
I do 2 kinds of investing. 1) investing in S&P 500 index funds 2) real estate.

Since you need the money in 4-5 years, I wouldn't put it in real estate, but the stock market is on sale right now. Big potential to make good money over the next couple years with the market being so low right now.

I would keep about 3-6 months of expenses set aside as an emergency fund outside of the stock market, just in saving or money market or something.

At 21 you are way ahead of the game!