Where should I park the money I’m saving for a house? I already max out post-tax 401k ( havent looked into mega backdoor yet ) and put aside 3k / month in a Vanguard index fund. Where should I put the rest of my money after bills, rent, etc. to maximize saving for a house? (And don’t want to play with stocks. Been burned too many times already and dont have the time to do extensive research). Also, i dont want to use money from my index fund so please dont say just park it all there. My index fund is for my second retirement fund.
CD. High interest saving account. How soon do you need the money?
Id like to buy a house ( not in bay so around 300-400k?) within 2-3 years
How much do u save per month?
Probably about 1k to park per month after everything
Save it in a saving account. I’d recommend TD(higher interest) or BoA, especially if you’re gonna take out mortgage with them - give you a little more power to negotiate.
BoA savings interest is terrible. Though if OP is saving for a house in the near future, s/he might as well park the down payment there as a stock market crash would be a disaster.
Do not invest if you plan to buy a house in the next couple of years. The financial market has provided recently to be volatile and you could end up losing money when you need them.
So put it in a savings account?
Correct, keep saving
Online banks such as Ally have higher interest rates
Ally online savings account. One of the best rates. You can compare them against other savings accounts
If you you will have money parked more than few months go for a CD as interest rates higher. Same Ally bank. If it is more than 250k split in two banks, Ally and Amex bank or Barclays online. These banks always rank higher in interest rates
All in AMZN. They are cheap at the moment.
Savings.
American Express savings 2.1% interest
Investment advice question or humblebrag?
Not sure why this would be a humblebrag. Also not sure why i would humblebrag on an anonymous forum