Smartest Things To Do With $10,000.

You’ve worked hard and you saved $10,000 – what a wonderful accomplishment! But it’s crucial to put your hard-earned cash to good use.
401(k) Savings
Putting some money towards your 401(k) savings is a great idea – especially if your employer matches contributions! If your employer matches up to 5% of your pay, but you’re currently only contributing 3%, consider increasing your contributions at least up to the company match.

Individual Retirement Account
There are two types of IRAs: Traditional and Roth. With a Traditional IRA, you can write off contributions each year, but your withdrawals are taxed during retirement. With a Roth IRA, your contributions are taxed, but you won’t pay taxes on withdrawals. Either way, when you contribute to an IRA, you’re contributing to your retirement.

College Fund
The cost of college is rising. Investing in a college fund for your child now could help ease the pain later or lessen your child’s reliance on student loans.

Mortgage Payments
Increasing your mortgage payment just $100 a month could save you money over the life of the loan and help you pay off your mortgage early.

Be sure to research all fees and expenses that may come with any investment you choose – you don’t want your investment efforts to have an adverse effect on your savings.