Hello everyone . I have $150k in a credit union savings account. This credit union pays out 3.05% in interest ($4,500 a year for me) , which is why I keep all my money in there.
I am 33 years old, no debt, married ( wife does not work ) 2 1/2 yr old son and another baby coming in July. I have 15 years until I am eligible to retire ( age 48 ) with a pension if I wish.
I have a 2 bedroom apartment that I pay $1,200 for every month ( great deal ) I live in new jersey where house prices and property taxes are super high. My wife and I will probably wind up house hunting starting next year.
My question is should I continue keeping my money in the credit union and earn a guaranteed 3.05% or how much money to move to my brokerage account as we reach the all time highs?
I figure 20% down payment on a house will be about $70k. 6 month emergency fund would be $27k and 12 month emergency fund would be $55k. To stash the downpayment and a 12 month emergency fund would be about $125k of my $150k.
My other investments are all in stocks 100%. Roth Ira that i have been fully funding for 3 years. Vanguard Total stock market index , Vanguard Total International Stock market and Vanguard reit ETF.
Brokerage account with Fidelity. $6,500 in total In ITOT, IXUS and various marijuana company stocks.
457b fund through my job invested in nasdaq 100. I am only doing $50 a pay or $1,300 a year for now. I will keep raising the funding with pay raises.
Anything that I invest from my savings in credit union would go towards my fidelity brokerage account and into the itot and ixus funds. They have low fees and are very tax efficient.
Sorry for the long post. Looking forward to reading the replies, thanks.
Submitted April 06, 2019 at 09:38PM by mark44x http://bit.ly/2D2EIfp
