27-Year-Old With $70,000 in Savings Seeks Advice on Next Steps

A 27-year-old posted on Reddit asking how much cash is too much cash after accumulating roughly $70,000 in a high-yield savings account. The poster lives with parents, attends community college, and plans to enter a nursing program. Expenses remain low and there is no debt.

The poster wrote that nearly $70,000 in savings now feels excessive given the low expenses. Tax-advantaged retirement accounts are described as already filled, prompting the question of whether to open a taxable brokerage account.

Commenters advised moving a portion of the funds into a taxable brokerage and investing in broad index funds such as VTI. Several suggested setting up automatic weekly transfers, with one example of $50 deposited each Monday.

Some commenters noted that upcoming nursing school costs and potential moves could justify keeping a larger cash reserve. One response stated that saving the money for school expenses within a year would not be unreasonable given current economic conditions.