Hi everyone,
I'm fairly new to investing and would love some advice on my situation. I've been saving for a house for the past six years, but now I'm reconsidering my plan. I might delay the purchase for another year as I may need to leave my current living situation by next year.
Here's my financial situation:
- Maxed out Roth IRA ($7k this year) with investments in QQQ and IVV (started this year).
- I work for a large US city and I'm currently maxing out my tax-deferred investment account with 8.25% interest, contributing the maximum allowed ($23k per year, just maxed out this year).
- $15k in a standard investment account, all invested in VOO.
- $200k in a high-yield savings account earning 4.25%. This is the money I saved for a house, but if I delay buying for another year, I wonder if I should invest this money in the market. Is a year too short to ride out market fluctuations?
I've considered moving a portion of the $200k to a UFB savings account with 5.25% interest for funds allocated for the property purchase.
Any suggestions for maximizing retirement interest while keeping a portion of my money liquid and accruing interest? I respect and admire everyone's knowledge on this site, so any feedback is greatly appreciated!
I'm fairly new to investing and would love some advice on my situation. I've been saving for a house for the past six years, but now I'm reconsidering my plan. I might delay the purchase for another year as I may need to leave my current living situation by next year.
Here's my financial situation:
- Maxed out Roth IRA ($7k this year) with investments in QQQ and IVV (started this year).
- I work for a large US city and I'm currently maxing out my tax-deferred investment account with 8.25% interest, contributing the maximum allowed ($23k per year, just maxed out this year).
- $15k in a standard investment account, all invested in VOO.
- $200k in a high-yield savings account earning 4.25%. This is the money I saved for a house, but if I delay buying for another year, I wonder if I should invest this money in the market. Is a year too short to ride out market fluctuations?
I've considered moving a portion of the $200k to a UFB savings account with 5.25% interest for funds allocated for the property purchase.
Any suggestions for maximizing retirement interest while keeping a portion of my money liquid and accruing interest? I respect and admire everyone's knowledge on this site, so any feedback is greatly appreciated!
Statistics: Posted by Heal22 — Sat Jun 08, 2024 3:48 pm — Replies 0 — Views 30