Best way to invest $200K ?
Hello everyone,
31 years old and have saved a little over 200k cash- currently it is in a HYSA making around 3.5%
I'm looking for my best option as to where I can move this money to get better returns.
In the rolling 12-month period my retirement account of about 200k has made a return of 33.33% ... this opened my eyes to how much more money I could have made in the same period had I also invested my 200k cash that's sitting in my HYSA...
I want to put this 200k cash I have to work so I stop missing out on larger returns then "just" the 3.5% the HYSA is getting me...
My future should be secure with my retirement account; but I still would like to get this cash In my HYSA to work...
I am thinking something like VOO or VTI or SPY or VT - open to others/suggestions and open to owning 2 or 3 of them if there are benefits of doing so...
Also, what would the smartest way to go about getting the money in? -- Dollar cost averaging over an extended period of time? maybe 10-15k every month? Or just throwing it all in at one shot?
I won't really be needing this money for at least 8 years... At that time I'd be looking to move and buy a big house with land... so I'd probably need to withdraw some of this money to help with the cost. But for the next 8 years I don't really need any of it... and would rather it be in the market working for me!
Let me know what you guys think, much appreciated!