I have a couple life events coming up: marriage and a house. We're getting married in October, and plan on purchasing a house as soon as possible thereafter (likely around March 2020). I'm currently putting aside a large chunk of my paycheck to pay for all things wedding related. This is going well, but preventing me from really building up a separate savings for the house.
About 15 years ago an event took place which landed me with a few thousands bucks. I was young so my parents put that in a CD, and it's been there ever since. This is a low interest (1.39%) CD currently worth around $11,500. It's due to mature 5/2019, but will auto-renew for another 5 years if I do nothing. I don't know much about investing which is why I've left the CD where it is for so long.
What should I do with this CD? I'm tempted to take it out, put it aside until we're ready to buy a house, then put it toward the down payment. This would fast-track our ability to buy since saving's been tough due to the wedding. Alternatives that I see would be to leave it as-is, or take it out and invest elsewhere.
Submitted March 07, 2019 at 12:13PM by ThatHoagieIsMyWife https://ift.tt/2Hngv6z
