All the below description is just to clarify my current situation.
I am a 27 y.o. single male immigrant from the third world (in a process of applying for a green card) who works as a developer somewhere in San Fransisco, CA.
I am debt free, currently earn 145k per year have a good health coverage (which I actually never used in two years, because I am pretty healthy) and recently reached 100k at my bank account (which I accumulated over a period of two years) and which gives me close to zero percentage back. I also have some shares from software companies (which in sum is approximately 10k).
Do not have any home or a car, and my spendings are close to minimum (food, rent). Also I do not expect any upcoming events which will require significant amount of money (wedding/buying a car).
This year I am trying to figure out a reasonable way to generate some money from my savings. I read many many similar question on money stack exchange and here are the answers to the common questions:
- What is my risk tolerance? I losing 10k or 20k would not be a big deal for me, although clearly I would like to avoid that.
- When do I plan to retire? Not any time soon, actually I would like to do something as long as I live
- What is the reason to invest? I do not do this for retirement, college for kids, buying expensive stuff. Mostly the reasons can be divided between get more money to start my own business when I legally can do it and when I know what I am doing and what I want to do (mostly start IT startup) and generate a passive income.
- When do you expect to want to use the money you are investing? I would rather divide the investment into parts and invest one part in short term goals (see some return in 2 years) and another one in long term (see results in 5-6 years).
A lot of answers I have seen are focusing on:
- paying off debts (not applicable to me)
- contributing to retirement (my company contributes something, also I am not sure how much). Also I am not a US citizen (not sure whether I will get a citizenship and whether I will stay here forever), so I am not sure whether maxing up my 401 is the best option for me.
- saving money for education for kids. I am also not sure how good is this path, mostly because I am a self-taught developer who learned everything from web and every year the number of resources to learn is getting bigger and bigger thus decreasing the need for college.
- starting your own business. As far as I understand with my current status in US (H1B visa) I am not legally able to do this. To add to this, I am still not clear as of what to do.
- Vanguard (not sure why so many people recommend it)
So can anyone would be nice enough to give me some suggestion as of how I can start generate some money from what I currently have. Currently I have zero knowledge about finance/investments but have significant knowledge in math/machine learning/stats/algorithms/programming and willing to learn anything that will make me a better with my funds.