Hello I am a 34yr old fully employed male looking to see if this is the best option for me.
I have a newly built home with a mortgage of 1,300 a month which I can pay out of my normal paycheck. So all the money coming from selling the old home is not needed it is all extra. I will be selling it soon for 300k. I was going to use it to just pay off the new home as it cost around 300k to build. The more I have looked into CD’s most are about 4.5% now it seems for around 6 months. I was thinking if I put this in a CD for 1 year total I would have 27,000 and after taxes would say 21,060. My house payment would equal 15,600 for 12 months. Would leave me 5,460 at the end of the year.
Is this correct? Should I do the CD route.
I am not a very risky person and not looking to make millions off of the money just looking for an even flow. I could pay for my home and still keep the 300k.
Or is there a better route. I just know this was the most secure route.
Like I say all of this money is just extra. Not needed for any payments or any life expenses.
Submitted July 30, 2023 at 11:35PM by IdleSquirrel https://ift.tt/QIvDCR0
