Need advice. I’m 18 and inherited 75k.
About a year ago I had a relative pass away and I inherited 75k. Since then, the money has just sat in a savings account as myself and my mom are unsure about the right steps to take. From this post I am basically just wanting some advice on what to do in terms of investing and how to go about doing that. Currently I am a full time student with college costs covered(academic scholarship)/no debt and do not need the money to cover any current expenses.
Update: I don’t plan to touch any of the money for at least 10 years but want the flexibility of being able to take a portion and possibly using it for something such as a house down payment. Is this smart and what would be the best thing to do to grow the money until that point? Is getting a financial adviser the best option? And would I just invest it with them and not worry or do anything with it until I needed it?