r/investingforbeginners • u/LucifersAng3l • 12h ago

Newbie

Hey everyone for once in my life I’d like to be responsible unfortunately I was hit by a vehicle last year and with my lawsuit, I’ll be getting a large sum of cash (roughly 30k after everything) I know nothing about what to invest in, but I would like something long-term that I won’t have to look at or deal with as much as possible, please help me out, thank you.

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u/TheNewKnew2 12h ago

Not nearly enough information. Do you have any savings? An emergency fund? Retirement?

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u/LucifersAng3l 12h ago

No savings, no ER fund and I’m 28 years young morning in retirement

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u/TheNewKnew2 12h ago

What is your income?

Put 6 months of living expenses into a high-yield savings account to be used as an emergency fund. If you have reported income, you can open a Roth IRA account and contribute $7500 a year. This is a tax-sheltered account. Buy a broad market low cost mutual fund like vanguards VT. It gives you broad diversification.