My husband thinks we should put it in an index fund like Vanguard. However, neither of us have much experience with investing, so we would like advice.
- Build an emergency fund with 3-6 months of liquid assets if you don't already (e.g. savings account or if you have lots of assets it could be a combination of savings and available but unused credit like a helco depending on your risk level and ability to rely on other sources like parents)
- Make a financial plan (e.g., save for a house, school, kids, retirement ect)
- Invest according to plan (e.g. if you need the money in 2-5 years be careful with putting it in the market). If the money is going to be saved for >5 years a low-cost all-in-one fund is a good starting point (VGRO, XGROW, VEQU, VBAL etc).
