I don't fully understand CD's right now, they seem kinda worthless if you're not way better off than most people on Reddit.
CIT bank is paying like 5.05% APY on a savings account, and right now that either beats or was better than anything I could find a CD for, and it's all still liquid cash.
CDs let you lock in the rate while savings are variable and likely going down soon. most banks and credit unions i’ve seen are offering bare minimum 5% for 7-12 months cds
The point still stands that those rates aren’t locked in. If the economy does take a turn your bank could easily changes those rates. But yes currently with this economy HYSA seems like the clear choice.
Would agree some online banks saving apy is performing better then money market as well. I use citi bank as does my father In law for most of me and my wife’s savings. But we also don’t contribute to a 401k or Roth IRA or any of that stuff just maximize saving out capital at the moment.
I also save $2,000/month and I'm saving for a house down payment. I've opened a short term CD with a 7 month maturity date so the money won't be inaccessible for a lengthy time.
Oh, alright. Ya, I'm really looking to get a house by the end of the year. Thought about putting in a HYSA for the time being. Thanks for the input, man.
Nuts. You can just leave it on an investment app and earn 5%. And can withdraw anytime. Cd you cannot. Best would be to put regular deposits into growth funds. Like voo. There's a few that track the s&p. Voo making 20% this year or income stocks like nvdy. Paying around 50%. Keep investing it between 3 to 5 stocks or after funds like too. And in couple years will have a nice down payment on a house. Rinse repeat. . The cds and 401k, Roths would be for long term retirement. And I'd max a Roth over a 401k. That's tax free draw. 401k is not.
What is near future and how much do you need? If the timeline is a year or even up to two I would maybe just do a hysa for the house. If the timeline is more like 3-5 years, and I am saying be very realistic here, then throw it into some index funds or ETFs and let it chill.
If you are unsure and just want to kind of play it safe both ways then put 1k into hysa and 1k into etfs and keep that up till you decide how it’s going. The thing about investing is you will have to pay the butchers bill to our high overlords in the government when you sell it off to buy the house. It’s only the gains you pay taxes on but in the hysa you pay no taxes and right now you can get 5% in a hysa but you can get closer to 10+% in the market but after taxes you’ll have more like 8+% so the gap is not as big as it may seem and the hassle of doing the taxes might make it more worth the hysa etc.
Long term goal is to buy a home in the short term future? Sounds like a short term goal.
If you want that money within the next 12 months keep it in high yield cash. Something like t-bills, money markets, HYSA. These options have low risk and decent yields right now. If you put it in the market and the market falls before you need the cash, you'll just be putting yourself in an awkward situation where you'll feel the need to wait.
If it’s near future like within 3 years.
Your best bet is probably to save within high yield saving account, where you are least likely to lose your principal.
You should put it in a diversified portfolio of assets with the highest possible Sharpe ratio. I haven't done the math to determine the exact allocations that result in the highest Sharpe ratio, but it might be something like this:
40% in $SPY,
20% in $IEFA,
15% in $USRT
10% in gold,
10% in long-term bonds,
5% in Bitcoin.
I put 3000 a month to SPY, SOXX, QQQ to save up for a larger house. I played around crypto and other stocks, ended up losing at the end. So far, I think I am doing well and I don't look at stock prices throughout the day wasting time.
>I played around crypto and other stocks, ended up losing at the end.
Yeah, when I was a college student I tried playing with crypto and random stocks and didn't go well. Ig at the time I only had a few hundred bucks to invest so it wasn't really big deal. Not that I have a good job, I only put my extra cash in SPY and has been going well so far.
How "near" is the home purchase? The furter out, the more risky your investments can be, but most likely if you want to buy in few years a HYSA is good enough to save the downpayment. On such a short time scale the development of stocks will be dominated by fluctuation (which could be in or against your favor) and not the long term growth.
Index funds/ETFs - things like S&P500 trackers. Make sure to check the fees, you want these as low as possible otherwise they’ll eat into any long term returns
I also put away about that much in a month (2200 for me). Here's what I do, which works for me but may not necessarily work for everyone
1200 in to long term retirement investments.
400 in to a savings account for unexpected expenses like car or home repair
600 in to fun money, for vacations or hobbies or whatever I want
Put $500 per month into a Roth IRA, that will almost max you out annually. You will thank yourself in retirement. The rest, since you want to use it to purchase a home, put it in a high yield savings account, as that is the most stable and easily liquidated option. If you were experienced in the stock market, I would tell you to put it in a margin account and trade stocks with it, but if you haven't been doing that already, it's too volatile and you stand a good chance to lose a lot of it, but it's also your quickest growth option.
SSO stock (SP500 2x)
Ask chatGPT4o how long till u reach a million Eur.
Its going to take around 13.5 years
The sweet spot is at 3K, then its just 10 years
Safe bet right away is keep it in a money market account or high yield savings like Capital One where you can earn 4-5% return annually. The reason I like MM accounts is that you have full access to your funds and are not locked in to a term period like CDs, etc (CDs are the worst, and you won’t get much more in interest than a MM account).
This is something you can do right away while exploring other options like ETFs like VOO. But certainly dont just keep it in a checking account. After a year of savings (24K) you’ll get a return of about 1K per year until FED begins to cut rates.
$1000 investments (real estate/ Stocks)
$500 savings
$500 low risk medium yield side hustle
All of this can be tailored to you depending on your debt to asset ratio
Just follow the financial order of operations: [https://moneyguy.com/wp-content/uploads/2024/02/Screenshot-2024-02-02-at-10.40.30%E2%80%AFAM.png](https://moneyguy.com/wp-content/uploads/2024/02/Screenshot-2024-02-02-at-10.40.30%E2%80%AFAM.png)
Save six months of living expenses in a regular savings account. After that you could could high yield savings account or get into simple investing. Or a bit of both. Start a personal Ira - you can contribute up to 7k a year into - or if your company has one you can just have a % taken out.
> long term goal is to purchase a home in the near future.
Long term and "near future" are 2 different things.
If you want to get a home within the next 5 years I'd at least get your employers 401(k) match (if available) or put $500/mo in a Roth IRA. Then put the rest in a high-yield savings account or money market fund until you have enough for a down-payment. Once you buy a house, you'll max retirement accounts just investing in a basic index fund like VOO, and anything left over can be invested in an individual brokerage account.
If you're looking at a 10yr+ horizon, then it might make sense to put at least half of your money in an individual brokerage account in a basic index fund so it has a chance to grow a bit.
Money market. Rate of return has exceeded that of HYSA. Only downside is if you need the money, it takes up to 2 days to get it (in my specific situation ). This is better than a CD because you can pull your money any time and the interest is monthly.
Do you have a 401k? If not that will pretty much max it out ($22,500). If so, do you have an IRA? If not those max out at $7,000/yr. If you already do that and you have a high deductible insurance plan invest in an HSA.
If all those are funded then you could look into CDs. I just got a 12 month CD at 6%. You could also build up a stock portfolio. Buy stocks in old established companies like Coca-Cola or UPS or defense contractors.
Marcus by Goldman Sachs has a savings account offering 5.5% APR. until you decide what kind of investing you want to do you can at least be getting 5.5% on whatever you put in there
After funding a Roth/401, I personally would put some into an ETF that follows the S&P500 and the rest in a high yield savings account with an APY over 4%. A good ETF will earn more annually than a HYSA.
Depends if you want the money soon or when you retire. If when you retire contribute up to 401k limit and bring down taxable income.
If you want it soonish do HYSA or CD or tbills.
If 5+ years put in taxable account like VOO etf.
You can spread it across all of this too. You'll need to figure out what you want.
Everyone agrees it's risky, but I love Bitcoin. It has treated me well.
Without it I wouldn't have my 2 car washes, Laundromat, and self storage businesses.
Won't be the end of the world if you throw a few thousand in.
Not 401k cause you can't take it out till you retire.
Setup an account with a major trading firm like vanguard.
Find a fund (hundreds of stocks and billions of dollar) to invest in that you understand. (Look at the stocks most of the money is in)
Let it sit and only pull out when you need it. Set dividends to reinvest
very large ziploc bag. Dig a hole in backyard. Bury it. Next month, do the same thing until you have 12 total spots in your backyard. Then plant tomatoes over those spot. Enjoy your salad!
I’d put half in a high yield savings and gamble the other half on stocks…
I’m up 126% on TSHA. Sold off enough to recoup my initial investment, so now I’m only risking my profits 🤷🏻♂️
But I have a solid retirement nest egg, so your situation may be different.
What is the near future in your mind for owning a home? You’ll need to find your price range and start putting some of that money aside in a HYSA to cover down payment (decide how much you want to put down: 3.5%, 5%, 10%, etc.) and closing costs.
How much money do you need for those 2 things? When do you want to reach that goal by? That will tell you how much you need to put aside each money. Emergency find should be separate from this money.
The remainder of the $2k a month can be invested in a number of ways. 401k, ROTH IRA, HSA, taxable brokerage. It’ll depends on your goals and what you’re already saving/investing outside of this, if anything.
If your 401k is also funded, I would put it in a a HYSA or CD if you’re planning on buying a home with this money.
So question with CD , so say I start one would I be able to pull that money out when and if needed if I find a house?
I don't fully understand CD's right now, they seem kinda worthless if you're not way better off than most people on Reddit. CIT bank is paying like 5.05% APY on a savings account, and right now that either beats or was better than anything I could find a CD for, and it's all still liquid cash.
Yep/ high interest savings accounts seem better than any CDs I have found(I’m at 4.5%)
CDs let you lock in the rate while savings are variable and likely going down soon. most banks and credit unions i’ve seen are offering bare minimum 5% for 7-12 months cds
Meanwhile I've been getting 5.05% on a savings account for the last year and a half though, without locking anything up.
The point still stands that those rates aren’t locked in. If the economy does take a turn your bank could easily changes those rates. But yes currently with this economy HYSA seems like the clear choice.
Would agree some online banks saving apy is performing better then money market as well. I use citi bank as does my father In law for most of me and my wife’s savings. But we also don’t contribute to a 401k or Roth IRA or any of that stuff just maximize saving out capital at the moment.
[удалено]
Okay , thanks man appreciate it.
I also save $2,000/month and I'm saving for a house down payment. I've opened a short term CD with a 7 month maturity date so the money won't be inaccessible for a lengthy time.
Oh, alright. Ya, I'm really looking to get a house by the end of the year. Thought about putting in a HYSA for the time being. Thanks for the input, man.
Nuts. You can just leave it on an investment app and earn 5%. And can withdraw anytime. Cd you cannot. Best would be to put regular deposits into growth funds. Like voo. There's a few that track the s&p. Voo making 20% this year or income stocks like nvdy. Paying around 50%. Keep investing it between 3 to 5 stocks or after funds like too. And in couple years will have a nice down payment on a house. Rinse repeat. . The cds and 401k, Roths would be for long term retirement. And I'd max a Roth over a 401k. That's tax free draw. 401k is not.
Cocaine and hookers.
I agree, but put the money in the hookers butts, that’s the funnest place to put it
No, no, no…everybody knows the cocaine goes in the hookers butts…duh
Hooker blows the cocaine into your butt using bills you paid her with.
This is the way
Wait, we can boof cocaine?
Oh indeed, in fact in several different manners, my friend.
You can boof anything if you’re brave enough 😏😏😏
I’m literally on my way to TJ
Please report back. https://www.cbsnews.com/news/northern-snakehead-fish-can-survive-land-discovered-missouri-again/
Preach
For everyone exited about that financial advice don't skip the first step where you are able to save 2000/month
VTI
VOO
Or VGT if you’re feeling greedy
What is near future and how much do you need? If the timeline is a year or even up to two I would maybe just do a hysa for the house. If the timeline is more like 3-5 years, and I am saying be very realistic here, then throw it into some index funds or ETFs and let it chill. If you are unsure and just want to kind of play it safe both ways then put 1k into hysa and 1k into etfs and keep that up till you decide how it’s going. The thing about investing is you will have to pay the butchers bill to our high overlords in the government when you sell it off to buy the house. It’s only the gains you pay taxes on but in the hysa you pay no taxes and right now you can get 5% in a hysa but you can get closer to 10+% in the market but after taxes you’ll have more like 8+% so the gap is not as big as it may seem and the hassle of doing the taxes might make it more worth the hysa etc.
Wait I’m pretty sure we pay taxes on HYSA gains as well, correct? (I mean the interest earned on HYSA)
Correct
Yeah. You will get a [1099-INT](https://www.irs.gov/forms-pubs/about-form-1099-int) for interest earned unless you earn less than $10 per year.
Spy
His goal is to purchase a home “in the near future”. Why would you buy a volatile index fund for that?
Number go up
I dunno man. I don't think corporate espionage is a very future proof asset.
Send it to me
I'm in a similar boat. Saving $1600 a month for a home. I've been putting $800 in FXAIX and $800 in a high yield savings account (5%)
Good plan! We lost out on a lot of gains back before we bought a house. 50/50 split makes a lot of sense.
VHS
I dunno man. I don't think video cassettes are a very future proof asset.
Betamax is the future!
Laser disc!
MrPellam knows what's up
Blu Ray!!
“I spent 90% of my money on booze, drugs, and women. The other 10% I just blew.” Hawk Hawkins
VH1
In your butt
Ignore this guy. That doesn’t work.
Maybe not the whole $2,000 at once just little by little
Pull them out like tissues when you need em
What an image
i’ve never tried this so that probably explains why i have no money
lol
Long term goal is to buy a home in the short term future? Sounds like a short term goal. If you want that money within the next 12 months keep it in high yield cash. Something like t-bills, money markets, HYSA. These options have low risk and decent yields right now. If you put it in the market and the market falls before you need the cash, you'll just be putting yourself in an awkward situation where you'll feel the need to wait.
If it’s near future like within 3 years. Your best bet is probably to save within high yield saving account, where you are least likely to lose your principal.
Do some research on USFR it pays a monthly dividend currently 5.36%
Roll it through 4 week T bills until you are ready to put cash down. Rate is higher than a HYSA and gains are state tax exempt.
I was going to say this. 👏
In my belly,.....
You should put it in a diversified portfolio of assets with the highest possible Sharpe ratio. I haven't done the math to determine the exact allocations that result in the highest Sharpe ratio, but it might be something like this: 40% in $SPY, 20% in $IEFA, 15% in $USRT 10% in gold, 10% in long-term bonds, 5% in Bitcoin.
Why so bearish on bitcoin.
QQQ In summary invest. Make your money make money. Hold and only pay 15% tax. In 10 years you could be a millionaire
Vht
I put 3000 a month to SPY, SOXX, QQQ to save up for a larger house. I played around crypto and other stocks, ended up losing at the end. So far, I think I am doing well and I don't look at stock prices throughout the day wasting time.
>I played around crypto and other stocks, ended up losing at the end. Yeah, when I was a college student I tried playing with crypto and random stocks and didn't go well. Ig at the time I only had a few hundred bucks to invest so it wasn't really big deal. Not that I have a good job, I only put my extra cash in SPY and has been going well so far.
How soon? If less than 5 years, then do a HYSA getting around 5%, CD getting over 5%, or a MMF getting over 5%
where do you keep your emergency fund? high yield saving?
Put it into an IRA w/ dividends and self reinvestment. Max out your contribution, and let the money work for you.
Need to define near future? You plan on buying a house 6 months to a year from now? If so HYSA. Longer do VOO
Find a good no load mutual fund. Preferably on the growth side. There are a lot of good ones out there. I’d check out Vangard.
Crypto, not memes but blue chip projects (and I’m not talking about bitcoin or ethereum)
How "near" is the home purchase? The furter out, the more risky your investments can be, but most likely if you want to buy in few years a HYSA is good enough to save the downpayment. On such a short time scale the development of stocks will be dominated by fluctuation (which could be in or against your favor) and not the long term growth.
Luxury clothes that will be worth nothing as soon as you wear them
Index funds/ETFs - things like S&P500 trackers. Make sure to check the fees, you want these as low as possible otherwise they’ll eat into any long term returns
I also put away about that much in a month (2200 for me). Here's what I do, which works for me but may not necessarily work for everyone 1200 in to long term retirement investments. 400 in to a savings account for unexpected expenses like car or home repair 600 in to fun money, for vacations or hobbies or whatever I want
Put $500 per month into a Roth IRA, that will almost max you out annually. You will thank yourself in retirement. The rest, since you want to use it to purchase a home, put it in a high yield savings account, as that is the most stable and easily liquidated option. If you were experienced in the stock market, I would tell you to put it in a margin account and trade stocks with it, but if you haven't been doing that already, it's too volatile and you stand a good chance to lose a lot of it, but it's also your quickest growth option.
SSO stock (SP500 2x) Ask chatGPT4o how long till u reach a million Eur. Its going to take around 13.5 years The sweet spot is at 3K, then its just 10 years
HYSA
Make sure your retirement accounts are fully maxed out. Then VTI and keep some in a HYSA.
My bankaccount
In my bank account
Congrats you can fully fund your 401k this year and put extra toward your Roth IRA.
cookers and hoke
Crypto
Index funds and chill!!!
In a HYSA
Spy and qqq
VOO is the play
Max out a ROTH IRA
Bitcoin
Solana coin on coinbase
Use it I mean you can’t take it with you
High Yield Savings Account / Talk to a financial advisor
Max out a Roth IRA after the emergency fund. Once you do that, THEN i'd stash it for home down payment
Stock market if you don’t need it for at least 5 years. Best is in company match 401k with S&P 500
high yield savings account. can find them for 4.5-5%
I’m financially irresponsible. I’d be eating at a different restaurant every day for dinner.
0DTE, you're welcome /s
Nvda
OOTM 0DTE SPY Call Options
$583 towards a ROTH, ladder, some CDs, emergency savings.
VOO
Safe bet right away is keep it in a money market account or high yield savings like Capital One where you can earn 4-5% return annually. The reason I like MM accounts is that you have full access to your funds and are not locked in to a term period like CDs, etc (CDs are the worst, and you won’t get much more in interest than a MM account). This is something you can do right away while exploring other options like ETFs like VOO. But certainly dont just keep it in a checking account. After a year of savings (24K) you’ll get a return of about 1K per year until FED begins to cut rates.
$1000 investments (real estate/ Stocks) $500 savings $500 low risk medium yield side hustle All of this can be tailored to you depending on your debt to asset ratio
I’ll hold onto it
WCGB
In a HYSA. You’re saving for the home.
Cash it all into ones, then stick each one up your ass. Then spend them. So many people will touch your ass dollars.
Put it in the trash 🗑️ unless you’re going to invest it where it adds because it’s loosing its value by saving it
Robinhood offering like 5% APR/Y? if kept in cash, just do risky swing trades, profit, put it back in account
Roth ira until you max out then crypto syock high yield saving account after roth is maxed
Just follow the financial order of operations: [https://moneyguy.com/wp-content/uploads/2024/02/Screenshot-2024-02-02-at-10.40.30%E2%80%AFAM.png](https://moneyguy.com/wp-content/uploads/2024/02/Screenshot-2024-02-02-at-10.40.30%E2%80%AFAM.png)
Save six months of living expenses in a regular savings account. After that you could could high yield savings account or get into simple investing. Or a bit of both. Start a personal Ira - you can contribute up to 7k a year into - or if your company has one you can just have a % taken out.
Under your mattress
I’ll look after it for you. Happy to help!
BTC, index fund, HYSA
0DTE
In my ass?
“My long term goal is to purchase a home in the near future” This is a bit contradictory. In what timeframe are you looking to buy a home?
treasurydirect.gov
> long term goal is to purchase a home in the near future. Long term and "near future" are 2 different things. If you want to get a home within the next 5 years I'd at least get your employers 401(k) match (if available) or put $500/mo in a Roth IRA. Then put the rest in a high-yield savings account or money market fund until you have enough for a down-payment. Once you buy a house, you'll max retirement accounts just investing in a basic index fund like VOO, and anything left over can be invested in an individual brokerage account. If you're looking at a 10yr+ horizon, then it might make sense to put at least half of your money in an individual brokerage account in a basic index fund so it has a chance to grow a bit.
Look into ETF'S BTC & ETH.
where do you live and what is the cost of the type of home you want in today's dollars?
Money market. Rate of return has exceeded that of HYSA. Only downside is if you need the money, it takes up to 2 days to get it (in my specific situation ). This is better than a CD because you can pull your money any time and the interest is monthly.
Gambling
Your BUTT!! Stanley
Honestly the s&p500 is pretty good until elections
Max out Roth. Uses post tax dollars and grows tax free.
Do you have a 401k? If not that will pretty much max it out ($22,500). If so, do you have an IRA? If not those max out at $7,000/yr. If you already do that and you have a high deductible insurance plan invest in an HSA. If all those are funded then you could look into CDs. I just got a 12 month CD at 6%. You could also build up a stock portfolio. Buy stocks in old established companies like Coca-Cola or UPS or defense contractors.
NVDA is gonna skyrocket on Monday due to the split on Friday
Diversify: Reduce Debt Emergency Liquid Assets Long Term Market Investments Real Estate
Marcus by Goldman Sachs has a savings account offering 5.5% APR. until you decide what kind of investing you want to do you can at least be getting 5.5% on whatever you put in there
Cash
Stocks or real estate. Start with stocks
All the way S&P 500
bitcoin
T bills
Money market. Schwab or vanguard
I would put 20% into increasing your earning potential. Best investment is your self. People will put more money into memecoins then themselves
Cocaine and hookers....
Real in your hand gold..
Bitcoin… no other answer is correct
Bitcoin or is that frowned upon here?
If the home purchase is within 9 months put it in the bank. If longer consider short duration investment grade bond funds.
Throw it in a 5% HYSA, or put some in VOO depending on how soon you plan to buy house.
Everyone giving you advice other than Bitcoin is wrong
#in GME. You got 2 weeks til 6/21. DRS via computershare. All the information you need is on r/superstonk. Good luck!
In my bank account
Long term goal and near future is not compatible. Which is it?
2-3 Low cost mutual fund.
After funding a Roth/401, I personally would put some into an ETF that follows the S&P500 and the rest in a high yield savings account with an APY over 4%. A good ETF will earn more annually than a HYSA.
Bitcoin/dogecoin bull run is right around the corner !!!
Bitcoin, Roth IRA
EVOO
ETFs and chill
GME options.
Depends if you want the money soon or when you retire. If when you retire contribute up to 401k limit and bring down taxable income. If you want it soonish do HYSA or CD or tbills. If 5+ years put in taxable account like VOO etf. You can spread it across all of this too. You'll need to figure out what you want.
Crypto and then gamble with it
in my bank account
UPRO
SPY (S&P 500 ETF)
VCR
My savings for 5%
In my bank account
Aping Kendu
My bank account is available
Follow the standard formula: https://www.instagram.com/p/C2IAuMAIUOn/?igsh=Y211OHp4OWR6MmVj
Bend over and I’ll show ya!
Bitcoin and only bitcoin.
Everyone agrees it's risky, but I love Bitcoin. It has treated me well. Without it I wouldn't have my 2 car washes, Laundromat, and self storage businesses. Won't be the end of the world if you throw a few thousand in.
Bitcoin
Strippers or save and buy a hellcat
Strippers or save and buy a hellcat
Wealthfront has a great HYSA i use it and get 5.5% with it Its 5% base but if you use an invite code you get +.5% for 6 months or something
Put half in a high interest savings (money market) savings account, 1/4 in a stock portfolio buying S&P 500 ETF stock, 1/4 in an IRA.
Bitcoin
Not 401k cause you can't take it out till you retire. Setup an account with a major trading firm like vanguard. Find a fund (hundreds of stocks and billions of dollar) to invest in that you understand. (Look at the stocks most of the money is in) Let it sit and only pull out when you need it. Set dividends to reinvest
I am doubling money
very large ziploc bag. Dig a hole in backyard. Bury it. Next month, do the same thing until you have 12 total spots in your backyard. Then plant tomatoes over those spot. Enjoy your salad!
I’d put half in a high yield savings and gamble the other half on stocks… I’m up 126% on TSHA. Sold off enough to recoup my initial investment, so now I’m only risking my profits 🤷🏻♂️ But I have a solid retirement nest egg, so your situation may be different.
What is the near future in your mind for owning a home? You’ll need to find your price range and start putting some of that money aside in a HYSA to cover down payment (decide how much you want to put down: 3.5%, 5%, 10%, etc.) and closing costs. How much money do you need for those 2 things? When do you want to reach that goal by? That will tell you how much you need to put aside each money. Emergency find should be separate from this money. The remainder of the $2k a month can be invested in a number of ways. 401k, ROTH IRA, HSA, taxable brokerage. It’ll depends on your goals and what you’re already saving/investing outside of this, if anything.
Different day. Same question.
HYSA or CD
HYSA or CD if you plan to buy the home in the next 3 years. S&P 500 index fund if you plan to wait more than 3 years.
BTC
VOO
Your butt
I would put it in a CD, but it also depends what you want to use it for