Firstly, man i feedchicken wings to my dogs, pretty sure people arent supposed to eat that crap haha.
I dont see why its so crazy for a 22 year old to have saved 50k?
I for one have been saving since i was 13 odd and when i was 20 i had a 40k share portfolio.
Now that im 22 i have almost 60k in shares and i own my 40k car. Add to that that i was studying engineering full time from 17 till 21.
I don't at all live conservatively with food, i eat very healthy and eat alot.
I'm generally pretty careful with my money, but if i want a new computer or something then its a done deal.
If i had been more frugal i could have easily had 50k in the bank + my shares. But who wants to live like that?
When i got my job i splurged a bit with a 40k car, home gym, big tv, amp, new fridge etc.
In hindsight the car was probably silly, but im rectifying that at the moment (going to novated lease it).
To answer the OP's question though.
I'll soon be in a similar position with the 35k i get for my car, I plan to invest it wisely in shares. Maybe look at some high return shares for 10k of it, and some other low risk slow growing high div shares with the rest. Probably keep 5k or so in my bank just for keepsafe though.
It's hard to know what to do, but just be mindfull that with everything there is a risk. Be prepared to lose money as much as your prepared to gain money.
I dont see why its so crazy for a 22 year old to have saved 50k?
I for one have been saving since i was 13 odd and when i was 20 i had a 40k share portfolio.
Now that im 22 i have almost 60k in shares and i own my 40k car. Add to that that i was studying engineering full time from 17 till 21.
I don't at all live conservatively with food, i eat very healthy and eat alot.
I'm generally pretty careful with my money, but if i want a new computer or something then its a done deal.
If i had been more frugal i could have easily had 50k in the bank + my shares. But who wants to live like that?
When i got my job i splurged a bit with a 40k car, home gym, big tv, amp, new fridge etc.
In hindsight the car was probably silly, but im rectifying that at the moment (going to novated lease it).
To answer the OP's question though.
I'll soon be in a similar position with the 35k i get for my car, I plan to invest it wisely in shares. Maybe look at some high return shares for 10k of it, and some other low risk slow growing high div shares with the rest. Probably keep 5k or so in my bank just for keepsafe though.
It's hard to know what to do, but just be mindfull that with everything there is a risk. Be prepared to lose money as much as your prepared to gain money.