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I'm hoping to buy a house in the next 1-2 years, but there isn't much inventory where I'm looking. I currently have the planned downpayment in cash, but I figure there has to be something smarter I can do with it. My criteria are: 1. I can pull the money out if/when I do find a house I want to buy 2. Not particularly risky short term. I don't want to put this in the stock market and potentially take a big hit if I won't have it in long enough for the ups and downs to average out. It looks like there are a few savings accounts that offer a bit over 1% interest, is there anything else I should be checking out? I took a quick look through the open threads and didn't see anything on this, but if I am duplicating an existing question let me know and I'll close/delete this post.
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# ? Jan 3, 2018 04:55 |
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# ? May 21, 2024 18:48 |
a certificate of deposit might suit you, but they do come with penalties on accessing the funds early. https://www.investopedia.com/terms/c/certificateofdeposit.asp
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# ? Jan 3, 2018 08:43 |
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Bitcoin is where the game is at. https://forums.somethingawful.com/showthread.php?threadid=3819120
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# ? Jan 3, 2018 14:01 |
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John Smith posted:Bitcoin is where the game is at. That's what I need, something that's both a bad long term *and* short term investment.
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# ? Jan 3, 2018 19:05 |
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I hear tulips are making a comeback.
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# ? Jan 3, 2018 19:09 |
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sorry to seriouspost, but basically, you're not going to find what you want. To get meaningful returns for your money, you're going to need to trade off some combination of risk, time, and liquidity. "I'll lend you some money, but I get to take it back whenever I want, and it'll probably be soon, and you need to pay me quite a bit" is not a great set of terms. A "high-interest" savings account isn't much but it's probably your best option.
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# ? Jan 3, 2018 19:25 |
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Ally has 11-month no penalty CDs. They were recently at 1.75% but it's down to 1.6%. It's probably going to go back up so you can just open and close them at will to get the higher rate.
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# ? Jan 3, 2018 21:13 |
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You're gonna be stuck in a savings account. Go online and look for banks that are offering a coupon for opening savings accounts with a certain dollar amount and pick the one with the best rate from those. If you're just keeping it around for less thana year you may be able to find somewhere that will give you a few hundred for keeping the funds in there for 6 months.
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# ? Jan 3, 2018 21:58 |
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Space Gopher posted:sorry to seriouspost, but basically, you're not going to find what you want. Solice Kirsk posted:You're gonna be stuck in a savings account. Go online and look for banks that are offering a coupon for opening savings accounts with a certain dollar amount and pick the one with the best rate from those. If you're just keeping it around for less thana year you may be able to find somewhere that will give you a few hundred for keeping the funds in there for 6 months. That was kind of my thought too. I'll check out savings accounts and no-penalty CDs. It's too bad the housing market is such a shitshow right now, I'm wondering if I should just try and wait for the next downturn.
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# ? Jan 3, 2018 22:02 |
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DeadlyMuffin posted:That was kind of my thought too. I'll check out savings accounts and no-penalty CDs. Bitcoin. Or just put it all on black.
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# ? Jan 4, 2018 01:15 |
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# ? May 21, 2024 18:48 |
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My credit union has a 2.5% interest bearing checking account up to 20k$.
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# ? Jan 29, 2018 02:00 |