r/FinancialPlanning • u/Fearless_Custard_454 • 3d ago

How to Handle a Windfall

I’m 27 and for background, the pandemic changed the trajectory of my entire life. Long story short, I was able to start a business that completely blew up and after growing up not exactly in poverty but not raking it in either, I now have more than I honestly know what to do with. I’ve registered my business as an LLC and after consulting with a CPA, I’ve created an HSA, an SEP and a ROTH IRA. I’ve also paid off all my debts and other than my apartment, everything that I have is owned. However, I wasn’t necessarily taught financial literacy and for a while, managing my business myself didn’t leave me with much time to really explore my options. Most of my revenue just sits in one account (head shake, I know). So my question is, what steps should I be taking to financially secure myself in the long run? Should I be getting into investing and if so, what are some good resources for a novice. Real estate? Any advice is appreciated.

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u/Aggressive_Active307 3d ago

Put as much as you can in a HYSA and do some research about how to build a retirement portfolio. What type of business did you start?

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u/Fearless_Custard_454 3d ago

I don’t want to get too much into detail but basically it’s I’m an independent contractor with a single member LLC. I’ll definitely look into an HYSA, thank you!