I came by some cash a year ago, so I put $20,000 in a Certificate of Deposit which will end this weekend (at about $20.5K). Now I'm wondering what to do with it. I don't really know much about investing, so I'm wondering what the most logical long-term move would be for me right now.
My bank currently has CDs from 6 months to 5 years, all at 0.75% interest.
But I've heard that investing in stock indexes is low risk over long periods of time. If I were to put this money in an index now (while the market is plummeting) would this be a smart way to start saving for retirement?
Or should I hold on to the cash and try to buy a rental property?
Or is there a fourth, smarter option?
Specific Goals [Edit]
I'm specifically looking for a low-risk, low-maintenance option that makes the most sense over a long period time (30 years-ish?). Stashing it away until retirement would be my first thought for the money, but I'm not sure if it might be smarter to keep it available just in case.
I'm in my 30s, living in the US. I don't own any property. I'm currently making below the poverty line, but I'm getting by. I have no debt. I have $2K in a savings account. I may be moving across the country for graduate school in a little over a year.