redditJ5 t1_j2c6xzm wrote on December 31, 2022 at 4:03 AM

I would recommend reading the richest man in Babylon.

5k is pretty nice every money extra money.

I would learn of ways to invest is in ways that have the best tax advantages on returns.

SlothRick OP t1_j2cecdi wrote on December 31, 2022 at 5:08 AM

I’ve done some research and I’ve found Wealthfront. They seem like a good option for someone like me that doesn’t really know what they’re doing.

redditJ5 t1_j2cfxp5 wrote on December 31, 2022 at 5:23 AM

Here is the thing, if there is something you don't know and want to know, someone has probably wrote a book on it. The knowledge in a book is normally 10:1 from online content (in most books).

Spend some time digesting books on the topic of currency, economics and finance and you'll start to understand good places to invest.

SlothRick OP t1_j2cf3tm wrote on December 31, 2022 at 5:15 AM

Additionally the money I’m receiving is non taxable as it is

redditJ5 t1_j2cg7bs wrote on December 31, 2022 at 5:25 AM

You'll want it's children to be as low tax as you can as well. Invest in the areas the government wants you to invest in and it's typically tax free or low tax.