Now I’m sure you’re wondering, cool… what do I invest in?
Well, I can’t tell you what to buy but I can give you a few things to look into. Let’s talk about it.
Learn about ETFs, Mutual Funds, and more here.
Target Date Funds
Target date funds are great for folks who are like… WTF do I invest in???
When you buy a target date fund, you select a fund with a date that coincides with your target date, aka the date you plan to access the money.
For example, if you want to retire in 2060, then likely you would select a 2060 target date fund.
Now, here’s the cool thing about target date funds.
They’re a pre-made portfolio of a bunch of different investments that will automatically adjust the closer you get to retirement.
What that mumbo-jumbo means is you can theoretically select the target date fund, and let it chill until your target date, in this case 2060.
You don’t have to do anything.
Just keep investing in the target date as you get closer to retirement.
I personally like Vanguard target date funds. From what I’ve seen, they have some of the simplest funds that invest in the entire stock market, and they have the lowest fees. But of course, always do your research.