I have a little over $22,000 in my savings (not all our savings) and checking right now, most of all Aprils bills paid.
My wife and I make gross between $100,000 and $120,000 a year (my income is not taxed), depending on bonuses and the like.
We have the typical mortgage, 2 car payments (14 months left on one, 18 on the other), some credit card debt, etc. Nothing outrageous. We have retirement accounts (403b maxed out contr), long/short term insurance disability policies, life insurance, etc. Financially, we are good if we continue to spend like we do, or less.
I have a 2 year old I'd like to leave a little legacy for. I understand I'm not going to turn $20k into a million or anything, but maybe $50k over 20 years.
Should Invest the total into a single ETF, such as the entire $20,000 in VTI, or should I spread say $6,300 over VTI, VOO, and SPY?
Tell me what you recommend. Even if its an option not on the board.
I know the market is on a downward trend right now, but I'm in it for the long game for the kid. Hopefully there is enough growth he can buy a house or at least make life easier, maybe put a nice down payment on a house after graduating college or trade school. Or whatever he decides.
Thank you.
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