Is $250,000 in savings at age 35 a good financial milestone?

[Anonymous]

I’ve been saving my money since I first started working which was back in 2008. I’ve just started recently in investing my money to help it grow. I have a majority of it in a CD. I’m making a decent amount on the interest.

[OneViewpoint]

It's a good start and a good habit you've developed. At your age you should probably diversify out of a CD into Equities (Stocks) and Debt (Corporate Bonds). You're young enough to weather some ups and downs in markets over time. Look at a platform like Fidelity and an IRA for tax deferred savings and professionally managed funds that are themselves diversified to mitigate risk rather than going it alone and trying to pick individual stocks and timing the buy/sell decisions yourself.

[slatyb]

Congratulations. But move most of your savings into the stock market. Historically this has done much better than fixed interest investments. The simple thing is to just open an account with a company like Fidelity and buy something like a Fortune 500 index fund.

[queenofcardio]

It's better than what most people have

[Asker]

I’m trying to save for a house but it’s too expensive out there.

[slatyb]

Are you trying to save enough to pay cash for the house?

[Alex-Snow]

Good for you! Invest it wisely and enjoy it when you are retired!

[Asker]

I figured I would try to grow it. I’m making $550 a month on the interest.

[Bricealan]

Very good. I brother was somewhat older but had 375K accumulated

[NathanDavis]

any money you can save... it is good money

[Asker]

I think so too.

[jamesgoldman]

Sure more than I'll probably have

I imagine my friend in exotic rentals with another couple of years will be pushing around the 10million mark

[FunkyMonkee]

A quarter of a million? I'll take that!!

[Asker]

Haha

[leviopperman]

CDs are like GICs? They suck. Invest in stocks. Buy SP 500.

[Nikki1989]

That is nothing nowadays.

[Agape93]

Sure, one you'll never achieve

[Anonymous]

Yeah