20 yrs old...What to do with my money?

[goldpaws]

I have a money market w/ charles schwab, too with less than $10,000 in it.
I don't recommend it at all! Poor rates, poor returns. I only see a good rate one month a year and that itself is still lower than CD rates.

What I do with my money (since I need flexibility) is I put it in 1 year CDs, or 6 month CDs, depending on rates and my needs when rollover time comes around. I can't do this forever but right now money flexibility on a rainy day is more important to me than a retirement that's more than 40 years away. I would, though, if your company matches it, go with that instead. Matching & maxing out is great. (if you go for CDs, go for short term for now because rates are not at their peak, so don't lock in for a 5 year CD until the yields are raised)

Also, no need for financial consultant..and try to stay away from stocks, especially if you don't know what your doing. I see way too many young adults risk their entire savings and losing it all, right before getting married and buying a home. If you go into stocks (which I don't recommend for you), take a course all about stocks first. My mother plays stocks - very well - but that's because she took a course, she knows what she's doing, and she calculates and diversifies! Diversification is always a good idea, no matter what type of money investment you enter.