How to best invest $230k in your 20s
Hello all! First time using reddit and I wanted to ask for some advice. I didn’t grow up with much money and have suddenly found myself with a large sum of inheritance money. My sister and I (both early 20s) are considering our options to best use it and invest in our future. Combined, we have approximately $230k split equally. How would you invest that money?
The most straightforward options might be to put most of it in KiwiSaver and invest a portion is stocks (which ones? Preferably none that fund unethical stuff). Note that neither of us have any debt left to pay back. Another option might be to invest in some property - I’m thinking a bare piece of land since neither of us are in a position to be landlords (we’re both planning on being overseas for 1-2 years). This would be to sell in a few years and hopefully make a profit, or even to put tiny homes on. Is the property market good right now? For context, we are based in Dunedin, and so is our family. If property is a good idea, what should I be looking for?
Any and all help is very much appreciated! I want to be smart about this because this much money this young could make a big difference in my life. Feel free to direct me to some good property/investment professionals in Dunedin too.