I’m 23, and just started my first full time position about 8 months ago. I have $8k in savings and just want to continue to grow that. I have it set right now for $100 out of each paycheck to go straight to a Roth IRA. I’ve been trying to just grow a savings before moving out on my own, and handling more bills.
I’m wondering if it is worth putting a chunk of money into an index fund like S&P 500. I’d still leave about $5k in my savings account, but as my savings account grows, I feel like I’m missing on opportunity by leaving it in just a savings account. But I want to still have access for it in case of emergencies and for when I inherit more bills IN CASE i need to dip in to it at all (goal is to not, obviously), but so I don’t want to put it too heavily into my Roth.
I am new in this journey and just always want to be smart with my money and make sure my money works for me! Thanks everyone in advance 🫡