Hey, I'm currently trying to save and help pay off my parent's house and am unsure of how best I should be saving that money. The amount left on the house is around 260k at a 2.3% interest rate. After calculating their payments, I can expect to save up to pay off the expected remaining balance within about 5 years.
I'm hoping to pay off the rest within one payment and am wondering what I should do with those savings in the meantime. Truthfully, I am new to personal finance and investing. I've read that for shorter term saving, <4 years, I should stick to a HYSA or a CD (assuming this won't work since I am actively depositing money?). What are some of the best options I have for my current situation? Interested in investing in a mixture of risky and safe options.
Thanks for the help!
Submitted August 29, 2023 at 04:32AM by elitemustang117 https://ift.tt/uj13tYZ
