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re: Money you need 3, 5, 7 years from now
Posted on 3/4/15 at 12:18 pm to LSU1018
Posted on 3/4/15 at 12:18 pm to LSU1018
This is something I have been looking into, and wanted to make sure I wasn't missing something.
I hate putting anything more than my "emergency" fund in savings because right now interest doesn't even keep up with inflation, so I was thinking about the following.
I know there is risk in putting the money into a mutual fund/stock market, but even the under performing ones would get ~3-5% returns, right? If you hold the funds for 3-7 years, you would only get taxed ~15% on the profits (Assuming it isn't an IRA)? Wouldn't this be better than letting your money devalue for 3-7 years in a savings account? Am I missing something?
I hate putting anything more than my "emergency" fund in savings because right now interest doesn't even keep up with inflation, so I was thinking about the following.
I know there is risk in putting the money into a mutual fund/stock market, but even the under performing ones would get ~3-5% returns, right? If you hold the funds for 3-7 years, you would only get taxed ~15% on the profits (Assuming it isn't an IRA)? Wouldn't this be better than letting your money devalue for 3-7 years in a savings account? Am I missing something?
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