As you may have noticed, my portfolio is defintely cash-heavy. There are two mains reasons for this:
1) I am currently renting and am saving up for a downpayment for a house in the next 2-3 years, and would like to keep the money somewhat liquid.
2) I don’t know that to do with it. I don’t want to be investing in the current trendy idea, and have it bomb right before I find the perfect house. Still…
…earning 2% interest is not going to help my downpayment money grow. I heard you can withdraw money from a Roth IRA to pay for your first home, but after doing some research, I found out that you must wait five years first. I’d like to think I’d be owning my own house by then… However, putting money into a Roth isn’t a bad idea anyways. So, I have decided to fund a Roth IRA. I can put in $3,000 for 2004 and $4,000 for 2005 for both my wife and myself each, as we satisfy the income restrictions this year and the next. Either it stays in there as a great retirement vehicle, or I can pull it out to pay for a house.
Next step: Which brokerage firm to use, and where to allocate my assets – stocks/bonds/REITs/pork futures?
The Best Credit Card Bonus Offers – 2025
Big List of Free Stocks from Brokerage Apps
Best Interest Rates on Cash - 2025
Free Credit Scores x 3 + Free Credit Monitoring
Best No Fee 0% APR Balance Transfer Offers
Little-Known Cellular Data Plans That Can Save Big Money
How To Haggle Your Cable or Direct TV Bill
Big List of Free Consumer Data Reports (Credit, Rent, Work)
Speak Your Mind