To start off I have a Roth IRA with FXAIX only, HYSA (5% APY), and a brokerage acct (unused as of now). So with that said, with my current budget I can contribute $600 into each monthly, $600 Roth and $600 HYSA and maybe $150 into a savings acct for a rainy day fund. I was thinking, I’m currently using my HYSA (5% APY) to save up for a house, but would it be better to make my HYSA my designated rainy day fund acct and then put my housing savings into a brokerage acct and fund a S&P 500 index fund with 10%? I would technically end up making more, besides I would have to pay taxes on the HYSA anyway. I understand the importance of funding my Roth IRA, especially starting young which is why I wouldn’t want to withdraw from my Roth to fund a house. Don’t wanna lose that compound interest just for 10k I can withdraw penalty free from my Roth. What’re you guys thoughts, you guys are a lot smarter than me so…
Submitted March 24, 2024 at 11:35PM by BoredComedian6136 https://ift.tt/xsfG85T
