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What is the best way to invest the $600.00 from the corona virus relief?

Started by Manuel M.
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Manuel M.

Many of us, if not all, will be getting $600.00 or more from the corona virus relief. What would be the best way to invest this money?

M

Melissa H.

I've been thinking a lot about this. Im thinking of putting it in a CD and letting it grow some interest.

E

Elizabeth W.

Excellent question , I would like advice on how to choose a good stock to investment in and how should I choose a platform to house my investment .

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Shannon P.

I'm not investing. I'd rather just keep it in a savings account and let it collect interest.

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Gina B.

I'm planning on putting it into my retirement – into my Roth IRA. Every dollar counts!

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Theresa B.

Put that money in a saving acct. and act like it's not there. You need something for a rainy day.

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Deborah S.

From what I've read in articles on SaverLife it is best to be sure you have an emergency fund saved to cover at least 3 months of bills before investing any money. I'm working on that 3 months again then want to invest in low to medium risk stocks. I plan to learn all I can to invest on my own using a credible app. My sister has been very successful at her investing and has learned a lot. I'll read more SaverLife articles.

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Anna W.

I agree it's best to have 3 months of emergency fund before investing.

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Shannon P.

I'm afraid to invest . What are the risks ? It seems like an awful lot of money during a pandemic.

Deleted user

Just for me I'd say stick with your normal breakdown of investment.

for me maybe 5-10% high risk, high return funds. 70-80% balanced fund of stocks & bonds, 5% high dividend yield funds. The rest in cryptocurrency.

Deleted user

for $600.00 to invest I am going to leave it in savings. It seems to me that there is no other safe way to insure my monies.

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