Home Down Payment Plan 2-3 Years

[ajlayt]

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.

[Hector]

I would keep my money into CD/MM/Savings if I need to take that money out in 2-3 years.

[bjl584]

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.

[disneysteve]

I agree with the others. Money needed in 2 years belongs in an FDIC-insured money market or CD.

[littleroc02us]

Everyone is right IMO, this is not the time to be risky, unless you want the excitement of gambling with your money.

[Jeff78703]

Money Market

Yeah, check out bankrate.com to get the best rates on an online money market and just stash it there. Two years isn't enough time to take risks.