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Posted on 1/7/13 at 7:23 am to CaribbeanDemon
I keep 50k in my kids name in a local bank earning 2% a year. I'd start there.
Posted on 1/7/13 at 9:33 am to rmc
quote:
Do $5k for 2012, $5k for 2013. You can do both now. Stick the rest in a brokerage account for the time being in the same type of etfs/funds.
Yep, and if you are married, you could effectively double that to a total of $20k into a Roth.
Posted on 1/7/13 at 9:35 am to CaribbeanDemon
CD's suck, they always suck. They give a crappy return with too many restrictions.
An emergency fund should be relatively liquid and safe, CD's are only safe.
You can still find Money Markets that beat 1%, but an emergency fund isn't an investment, it's insurance.
An emergency fund should be relatively liquid and safe, CD's are only safe.
You can still find Money Markets that beat 1%, but an emergency fund isn't an investment, it's insurance.
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