Hey everyone, I’m 19 and recently started working at a car dealership. Things have been going pretty well—I’m making around $7,000 a month on good months, with the lowest months around $3,000–$5,000. My living expenses are really low since I live at home and my car is paid off, so I’ve been saving a good amount of money.
Now I’m at the point where I have a decent chunk of cash just sitting in my bank account, and I want to start being smart with it. I’ve heard about things like Roth IRAs, stocks, and bonds, but I don’t fully understand how all of it works. I’ve also been thinking about investing in real estate and maybe renting out a condo, but I know I probably need at least another year of income before that’s realistic.
Just looking for any advice or thoughts on what might be the best next steps for someone in my situation. Appreciate any guidance!