Where do I start.
Savings is a Joke: A savings account makes absolutely no money. It barely keeps up with inflation and in some charts loses money. So you are losing money when you put money in to a "Savings" account.
Savings is a joke, so what do I do with extra money ?
Get a brokerage account Get a brokerage account that offers free trades. Robinhood is killing e-Trade because of the zero dollar trades. I use Merrill Lynch because they partner with BofA and have tiers.
Robinhood has unlimmeted free trades and the ability to buy portions of a stock. For example Amazon is worth 3,292.23 today 1/23/2021. You can buy $100 worth on Robinhood.
The number one question is what should I buy
You should never put your eggs in one basket. That is a saying. So you must be asking yourself how do I diversiy?
This is a chart from Merril Edge that I live and die by.
Disclamer: Patrick Handy is not a financial adviser and all of this advice is speculative. He isn't even your friend. In fact he hopes you fail.