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12-01-2010, 05:48 PM
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Home Down Payment Plan 2-3 Years
Over the next 2-3 years, my wife and I will be saving $700 - $900 / month ($8,400 - $10,800 / year) toward a house down payment. We currenlty have no debt and about $10,000 in liquid cash that could be used toward the down payment also (we do have our 6 month emergency fund taken care). Other than my 401k, I am not that versed in the making money off of investing world. I would love some advice on what I should do over the next 2 - 3 years with this money to make it grow
 . What semi conservative options are out there that I could take advantage of? Thank you for your time and advice in advance.
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12-02-2010, 05:06 AM
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Keep your money safe by keeping it in cash accounts or set up a CD ladder. You don't want to risk losing pricipal since this will be a house dowpayment and will be needed in the next few years.
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MODERATOR Brian
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12-02-2010, 05:41 AM
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I agree with the others. Money needed in 2 years belongs in an FDIC-insured money market or CD.
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Steve * Despite the high cost of living, it remains very popular. * Why should I pay for my daughter's education when she already knows everything? * There are no shortcuts to anywhere worth going.
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12-02-2010, 06:22 AM
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Everyone is right IMO, this is not the time to be risky, unless you want the excitement of gambling with your money.
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