It honestly sounds like you should just keep this as cash. You’ll have to figure out whether your hesitation is irrational thinking (no offense meant…we all have these from time to time with money, and other things of course) or rational thinking. It may be rational for you to hold $60k of cash. Depends on job situations, how much you spend annually, financial safety net from family, etc. It’s not clear if you think $60k is what you should do something else with or if $60k is all the cash you have. Obviously leave something for an adequate EF which should include an amount for home maintenance.
I would max tax advantaged accounts as a first option. In a real pinch, you can access Roth contributions without any restriction or penalty. Not ideal but it should be a last resort.
After that, if this money is for the long term, just invest in taxable as per your usual plan. I bonds would be a hybrid tax deferred/taxable option.
I would max tax advantaged accounts as a first option. In a real pinch, you can access Roth contributions without any restriction or penalty. Not ideal but it should be a last resort.
After that, if this money is for the long term, just invest in taxable as per your usual plan. I bonds would be a hybrid tax deferred/taxable option.
Statistics: Posted by tashnewbie — Sat May 04, 2024 7:41 am — Replies 14 — Views 1796