Hi there - I'm looking for advice on where to park my money for a future house purchase.
After taxes/retirement/expenses, my wife and I can put away about $1500 per month. Currently, we have $34,000 (6 months of expenses) in a Discover Savings account earning 1.8%. We live in a HCOL area (NJ), where a decent home costs $500k. With 10% down, I estimate that we'll need around $110k to buy something (E-Fund, Closing Costs, Improvements, etc.). With our current savings rate, we'll have that in 4 years (Probably less, since we both anticipate raises).
The question I'm struggling with is, do I take our current/future savings and ladder CD's for the next few years or just throw it in the S&P?
Submitted September 03, 2018 at 08:56AM by Trollness https://ift.tt/2LRtHiF
