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What should I do with the 100K I have ?

I’m 29, just cracked the 100 grand mark. Not married l, no kids, no debt too. I was in the military and used my gi bill when I got out. Got a pretty good job, 4K a month in nyc housing allowance. That’s where I’m at. It’s all stuck in a 2% high yield savings account. I got burned a few years back in seadrill partners and lost 10K, so I’m reluctant with stocks. But I need to know what to do long term with it. I like these High yield dividend oil stocks like Exxon, shell, bp and the XLE etf. I would get about 7% yield. And just let it sit there and collect the 7K for a decade and beyond

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  • 1 month ago

    Give it all to me.

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  • 1 month ago

    I would stay away from Big oil stocks, democrats will eventually get their wish to screw them over.

    Anything that pays a 7% yield, something is wrong.

    what about stocks PFE or T????

    good job at saving $100,000. very good for 29 years old.

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  • 1 month ago

    A good solid mutual fund is a good idea. Ask a financial advisor but make sure they are fee based, NOT commission based. 

  • 2 months ago

    I kinda don't like oil stocks anymore because EVs are the wave of the future.  One of my holdings is GM.  There are plenty of stocks across different sectors that pay a nice dividend.

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  • 2 months ago

    Invest in a home if you rent now.  

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  • Anonymous
    2 months ago

    Use it to buy a house or apartment. No better, or safer investment.

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  • 2 months ago

    SAVE ALL OF IT towards retirement.

    • SumDude
      Lv 7
      2 months agoReport

      A house is a major cornerstone of most people's retirement. Houses appreciate faster than savings accounts. The stock market cannot go up forever.

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  • 2 months ago

    Don't count on collecting the dividend for a decade and beyond. If everything switches to electric cars and stops using gasoline and power companies start making all the electricity with solar, wind, etc., and stop using oil, then the oil stocks won't do well.

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  • Anonymous
    2 months ago

    It belongs in stocks.   Mutual funds will diversify you and you don't have to choose the stocks.    It's a no-brainer.

    You're flushing away that 100k by keeping it in a savings account.  My money's doubled in the past couple years.  

    You're pushing 30.   100k is not great.   You're going to need 3-5 million to retire.   Better get busy and start looking at investments for GROWTH.  Historical average return of the stock market over past 100 years is 10%.  

    Dividend paying oil stocks for a 30 year old?    Gimme a break.   Besides, you're about to make the same mistake you made when you got burned before...putting all your eggs in one basket.    I wonder what will happen to your oil stock the next time there is a political, social or environmental disaster.   Ever heard of the Exxon Valdez or Hurricane Katrina?  

    If you can't be bothered to get yourself a basic investing education, put that money in an S&P index fund or other diversified growth fund at Fidelity or Vanguard and forget about it for the next 30 years.

    ETA:   Yes, stocks have gone up forever (obviously with fluctuation just as with real estate.   Stocks consistently outperform real estate.   And they don't cost anything to maintain and there is no tax until you sell.  A house is NOT a retirement investment.  It's also not a diversified investment plan if a house is one's primary asset. 

  • Anonymous
    2 months ago

    Some or a lot in an s&p 500 index fund. Low fee. Invest monthly, not all at once.  Long term you will do well. But there will be downturns. You can't predict them and even trying will lead to poor returns over the long term. At your age, you do not need dividend stocks.

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