7 Money Moves to Make if You Have More Than $50,000 in Your 401(k)

Last updated Nov 2, 2020 | By FinanceBuzz Editors
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If you've already saved $50,000 in your 401(k) — or are close — congratulations! You've prioritized saving for your future in a huge way.

With your 401(k) well-funded, you might be wondering what's next? Luckily, you've got a variety of investment options to choose from — where you go next is a personal decision based on your goals, age, and risk tolerance.

You could open an investment account and invest in stocks, bonds, or even crypto. Or, diversify your investments by adding art or real estate to your portfolio. Whether you want to actively trade or "set it and forget it", there's an option for every type of investor.

This is not investment advice, be sure to do your own research if you're going to invest.

Let's take a look at some top options…

Invest in Apple, Amazon, and other companies for just $5

Stock shares in companies you may trust, such as Apple or Amazon, can be very expensive for individual investors to buy.

The good news is, Stash allows you to start investing with $5 or less and you can buy fractional shares so you can afford to get a piece of companies that are household names3. You can also find useful tools and guides to help build out your portfolio.

As a bonus, Stash will give you $10 to invest after you deposit $5 or more into your personal portfolio.1

Want even more tools and guidance? If you choose the Stash+ plan2 when signing up, you can earn 2x stock rewards when you spend on eligible purchases!4

Sign up for Stash now

Leave your family up to $1,500,000 (starting at just $10 a month)

Life insurance isn't a traditional investment, but it's an essential purchase if you currently have anyone who depends on you or if you plan to have a family in the future. Think of it as investing in your family's future.

By getting insurance, you can help make sure your family doesn't suffer financially if something happens to you. A policy could help you make sure your spouse can pay off your mortgage, your kids can pay for college, or your aging parents can get help from a professional caregiver if you aren't there to assist them.

Buying life insurance doesn't have to be difficult. Bestow allows you to apply for a policy online in just five minutes.

You won't need to worry about a doctor's visit or doing tons of paperwork, and policies start at just $10 per month. Shop for coverage today with Bestow so you can help protect your family.

Get a quote from Bestow now

Invest in Paintings by Basquiat, Picasso, Banksy

The ultra-wealthy have been flipping art for huge profits for decades and now non-millionaires can get in on the action. Masterworks is a platform for investing in blue-chip art, an asset class that’s outperformed the S&P 500 by over 180% between 2000-2018.

Masterworks purchases multi-million-dollar paintings and divides up ownership among its members. Just like stock in a company, you can own fractional shares of artwork. If the painting sells, you make money off the appreciation.

While Masterworks requires a $5,000 account minimum to get started, you can invest as little as $20 in each work.

Skip The Waitlist: Use our link to get exclusive access to bypass the 25,000 person waitlist!

Click here to get started

Save up to $500 on car insurance in Virginia

Car insurance can be expensive, so you want to make sure you're not overpaying on your current premium.

FinanceBuzz has made it easy to search and compare quotes. Think of it as Kayak, but for car insurance.

We can help match you to insurance carriers and regional agencies to help you save on your car insurance. FinanceBuzz can save drivers up to $500 per year compared to their current insurance premiums.

It takes less than 5 minutes to fill out the form and you'll receive a list of matches that show you online, email, and potentially phone quotes.

Click here to get started

Save the $250 you'll probably pay in bank fees this year

Bank fees are annoying, so stop paying them.5 There are no monthly fees~ with the Chime mobile banking appno minimum balance fees, and they even offer fee-free overdraft — up to $200*.

And no fees~ doesn't mean no features. With Chime, you can build your savings faster by automatically rounding up your purchases, plus get paid up to two days early when you use direct deposit^.

Apply online in just two minutes — there's no credit check required.

Sign up for Chime now

Get A Free Stock Valued at Up To $225

Robinhood is a great option for both new traders and seasoned investors.

With Robinhood it’s completely free to buy and trade stocks, options, and more. All trading is commission-free with no account minimums or maintenance fees. They’ll even give you a free stock in a company like Apple, Sprint or Ford.

Sign up using the link below and Robinhood will add 1 free share of stock (valued at $2.50 to $225) to your account when your brokerage application is approved.

Sign up for Robinhood now

Bonus: Get smarter about money in just 5 minutes a day

"Wealthy" is all about numbers. "Worthy" is a mindset. If you’re the type of person who’s passionate about growing your net worth and becoming financially independent, then you belong in Worthy — our brand-new personal finance community.

Join Worthy, and you’ll get expert advice on earning more, investing smarter, and saving for the life you want - right in your inbox, for free! Stay up-to-date on the latest news and trends that could impact your wallet, and get access to exclusive insider content and special offers.

Sign up now and join thousands of people who are getting smarter about money every day with Worthy.

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Bestow Benefits

  • Leave your family up to $1,500,000 in life insurance
  • Apply for a policy in under 5 minutes
  • No medical exam required
  • Policies start at just $10/month

Author Details

FinanceBuzz Editors The editors at FinanceBuzz are a team of personal finance professionals dedicated to providing readers with accurate, helpful advice.