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House down payment
Posted on 11/21/16 at 9:37 pm
Posted on 11/21/16 at 9:37 pm
I'm 27 have been renting for a while. I have a 401k and my job does matches. Also have a IRA from Prudential, as well as an HSA savings account. But I'm looking for the best saving account option so I can be able to produce a down payment when I decide to purchase a home.
3
Posted on 11/21/16 at 10:40 pm to CarolinaSoCocky
Online savings account can get you about 1%. About the best you can get with a short term investment like that
Posted on 11/21/16 at 11:12 pm to CarolinaSoCocky
Income? Debts?
Posted on 11/22/16 at 7:27 am to rpg37
Income just a little over 60k and recurring debt is at 1100 a month
Posted on 11/22/16 at 8:34 am to CarolinaSoCocky
I would just open a brokerage account with someone like Schwab, vanguard, etc. Automatically deposit $X amount into the account every month and just invest it in one or 2 ETF's or mutual funds. You can sell them if the market drops, with an ETF you can set a sell limit order of say 5% below what you paid for it and move it up as your investment increases so that worst case scenario you only lose 5%.
A savings account is only going to get you about 1%. Short term that isn't a terrible option.
A savings account is only going to get you about 1%. Short term that isn't a terrible option.
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