I (25M) want to figure out if I'm doing good with my investments for my future Down-Payment.
I currently have a Flex CD with $56,500 (4.65%) paying out in May 2025 -- I can contribute as much as I want until then. I also recently opened a Discover HYSA (4.25%) that has $15,250 -- got a $150 SUB.
I keep $5,000 in my personal savings account (which gains essentially no interest) as my Emergency Fund because you never know what life could hit you with.
I also have an extra $7,700 in that same savings account after my paychecks from this month.
I'm also planning on getting an apartment by the end of the year, so I'm thinking of only keeping $5,000 in my HYSA to have that ready AND just in case life really fucks me before then.
I was going to put the $17,950 (extra savings + what'd be taken out from the HYSA) straight into my Flex CD, but is there anything I'm missing/not seeing that would be a better move financially?
And I know there are other CDs at the moment with over 5% monthly returns, but none of them allow me to contribute more funds after opening the account. Wouldn't my Flex CD pay off more in the long run?
Submitted April 22, 2024 at 12:26AM by BigBootySteve https://ift.tt/rpGc37Y
