23 years old with $20k cash on my hands. What would you do with it?
Hi (this my first Reddit post, we’ll see how this goes).
I’m 23 and recently came into $25k cash that I’m trying to figure out what to do with
I’m in a pretty fortunate financial situation right now. I have no debt, very few expenses, my Roth IRA is maxed, and I have about $50k invested in a brokerage account, mostly in the S&P 500 / similar investments
My income is somewhat inconsistent right now, but because my expenses are so low, I feel like I can afford to be fairly aggressive with this money. I also own a small business, but I keep the business finances separate and it doesn’t need any additional funding right now
I am interested in potentially using a few thousand dollars to experiment with another online business or income stream.
I’m comfortable with being aggressive whether that means stocks or an online business.
So if you were 23, debt-free, already had a decent amount invested, and suddenly had an extra $25k to work with, how would you allocate it?
Would you invest most of it? Keep a chunk in cash? Use some to try building another source of income? Something else entirely?
Curious what you would do in my position. Thanks for whoever takes the time to read and respond.