ftrexx1, In my opinion, start your 401K (NOW!!) or ROTH IRA. Buy you a house cash and car cash. Put the rest in emergency fund, take some and learn to trade if you have a passion for trading. If not, put it in the bank. An opportunity to invest will come shortly. Wait til the market crash again.
yeah this is not too far off from some earlier assumptions... you want the money to grow. 'everything seems so high' is everyone's problem... that's why so much cash is on the sidelines and retail is still not participating... it's an uncomfortable trade... but uncomfortable trades usually work... by the time everyone is convinced that the bull market is legit, then you have a top. again, to me all in QQQ + FAMMG is no brainer... 3rd inning of AI revolution, and valuation is still far cheaper than bonds.... unless of course if you want to get hands dirty with landlording... but that may take away the joy of a new kid. if you talk to an advisor, be ready to receive the standard 'diversification' treatment lol... nobody gets fired by recommending a basket.. mediocrity means job security. good luck!
Living in NYC forget Real Estate as an investment..$900k won't even get you a studio in NYC . If your jobs are locked in NYC then you are stuck in earning money and throwing it mostly away in living expenses, especially at the salaries you mentioned. At some point you have to look into crossing the river to lower taxes and get more house for you buck and set up a home. Also max out on IRA/401k/whichever. Not to mention better schools and other things that now matter for the little one on the way. Day care in NYC is astronomical. Lot of hidden costs raising a kid and living in NYC.....look across the river.
hahaha - this has turned from investment advice to where to live? El OchoCinco you should go an extra mile find an apartment, a day care, and 5 rentals in New Jersey, and manage for him too and wait... don't stop there... I want you to find and manage rentals for me too
Where to live is an investment in yourself. Once he told me where he lives, the other stuff goes out the window. His first priority is to buy a home for himself...cannot happen in NYC. Savings? That $900k will be gone before the kid is 10 years old at NYC living expenses. You are dumbing down investing to buying a stock or portfolio, I am talking about long term life issues that affect your ability to invest and save because I have years of experience in this. He has a kid on the way. Living in NYC with a child on the way is why he does not own a home/condo and why he will never making those kind of salaries. Moving across the river cuts your taxes down, gets you better schools (public), allows you to save more money for further investments. If their jobs are tied to the NYC and they do not want to commute then there you go. But you are making superficial comments on a much deeper issue of a DINK about to become a DIOK living in NYC and asking about long-term investing. That is why your advice is insufficient because it does not take into account his living situation. $900k will be gone in 10 years raising a kid in NYC. Investing in a car and house?? In NYC? Not gonna happen at $160,000 a year before taxes and salaries OP said might disappear. Look across the river where you can buy a house in cash and still have plenty of money left over to save/invest and get a car as well.
I suggest for OP to buy a house in UK and rent it out as rooms or redevelop to studios. American citizens can buy property in UK First do good research and find out.I would suggest areas 15 km from Gatwick or Birmingham. Need to look at spareroom.com for what room or studios rentals go for and various realtors to check house sales. There is evident shortage of rental property around UK in areas with industrial base such as West Sussex/Surrey or Midlands