23F – Roth maxed, 6% to 401k, $200/month from HYSA… should I open a brokerage and invest in S&P?

Hi everyone! I’m 23F and trying to be intentional about investing early.

Current situation:

• Roth IRA: maxed out

• 401(k): contributing 6% (no employer match beyond that right now)

• HYSA: $85k earning about $200/month in interest

I’ve been seeing a lot of posts saying not to keep “too much” cash in a HYSA long-term because of inflation and opportunity cost. I like the safety of it, but I’m wondering if I’m being too conservative for my age.

I’m considering opening a brokerage account and investing in something like an S&P 500 index fund (VOO, FXAIX, etc.), but I’m nervous about losing my savings in a downturn.

For those of you who invest in a taxable brokerage:

• What percentage of your savings do you keep in cash vs invested?

• Do you mostly use broad index funds (S&P 500 / total market), ETFs, or individual stocks?

• How do you mentally handle market dips?

• Did you transition money gradually from HYSA into investments or lump sum it?

I have no debt besides my car payments and stable income. I’m just trying to balance growth with not feeling anxious about volatility.

Would love to hear how others structure their brokerage accounts and how you decided on your allocation at a similar age.