We've around 200k in bank and another 100k investments in stocks. This doesn't look enough to get home in Bay Area so looking for some ideas to invest the money so that we can at least think about buying home in 2-3 years. Current combined TC for family is around 300k and we are 3 people in family including our baby of few months. My spouse is on H4 so if something happens to EAD rule then TC would drop to 200k. Thanks 🙏
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How can my idiot brother who does real estate afford this
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Bitcoin bro
He is a family man, he can't gamble like fresh graduates. So please keep him away from Crypto gamble 😀
It’s an investment bro...not gambling
200k is good for 1M down payment, you targeting greater than that in pricier areas?
I will say exactly that , get a condo and get into the market , things are supposed to rise by mid next year
Wouldn't putting all cash into down payment but risky? So far houses within 1m price range that we looked at haven't been very nice :(
Savings account for that 2% interest
Any recommendations?
https://www.northpointe.com has a 2.3% fdic insured savings account.
At 300k annual, you have 300k savings? Can I ask how many years you guys have been saving?
My wife started working from last few months. I've been working for 6-7 years but TC wasn't much till last year :(
2-3 years is not a long enough window for risk based investing. You should get a CD or bond at best or if you want flexibility best you can do is high yield savings.
Any recommendations?
Marcus Goldman Sachs
I’ve tried a lot of the online sites such as Wealthsimple, FundRise, and a few others...Wealthsimple started off good, then sort of ranked, as it was just doing some key stocks that weren’t a good choice, Fundrise returns between 5% and 10% in 6 months, so that would be my recommendation, I’ve seen others mention Robinhood, but I need to research that. Do your own research if your going to be throwing your life savings in it, you definitely want to be diversified.
I disagree with Fundrise being a good option for OP. OP needs the cash in 3 years, Fundrise is highly illiquid - usually 5 years + investment, plus the investment can lose value given the real estate market is becoming volatile.
Thanks for detailed reply
If you are saving for a house, put it in something safe like a CD or money market fund. No point taking chances on bonds or equities.
Thanks