I’m 26 years old and have 100k saved up ?

Hello, I’m 26 and live in New York and have $100k in a savings account .My question is what do you guys suggest that I do with the money? My ideas are to maybe put a down payment on a house that’s worth 150k in maybe in a state like Florida and rent it out or what other ideas you guys suggest ? 

Thanks 

8 Answers

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  • Kate
    Lv 7
    1 month ago

    I would suggest you speak with a qualified Financial Adviser. With the current state of things in the world values can change overnight and they would have a better idea.

  • 1 month ago

    Your money is growing very rapidly.

    Have you paid taxes?

    If you haven't, that is the first thing you have to do with the money. 

  • 1 month ago

    Plastics ... (albeit, you are too young to get the joke).

  • Maxi
    Lv 7
    1 month ago

    I suggest you go and speak to an independant financial advisor who can look at your circumstances, your capital and give you the best options of investment for you......... as stuck 'in a savings account' you are missing out on lots of additional money

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  • Anonymous
    1 month ago

    buy a home yourself to live in..............................

  • Anonymous
    1 month ago

    Not sure I believe you. You ask these questions a lot with differing amounts.

    Renting a house while living a long way away is silly.  Tenants are almost always an issue and you can't drive down from NY twice a year to deal with them.

    Now $100k

    3 months ago= $86k

    6 months ago both $64k and $60k.

  • 1 month ago

    House - great idea but not so far from home.  Hiring someone to manage the tenants, perform repairs, etc. will cut into your profit.  Best if it can be within a couple of hours' drive at the most.

  • 1 month ago

    wouldn't it make more sense to buy your own place where u live and work? because u re giving money into someone else pocket instead of collecting in your own. 100 k is a very good downpayment

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