I hit my one year mark and I want to save extra money that is not related to the TSP. I hear it is a waste to just let money sit in savings. What is an alternative that apparently also gradually grows the money as it sits in there?
Additional question
: if I’m buying my dream car, it’s bad to buy it all with cash right? Since it’s a depreciating asset?
Alternative to letting money sit in a savings account
byu/KingXenioth inMilitaryFinance
Posted by KingXenioth
2 Comments
An emergency fund is not a waste. Especially when savings accounts are earning 5% interest fdic insured. If you don’t have a fund… other than that you should be maxing out a Roth IRA if you want to retire before 59 1/2
Potentially spicy take here but if you’re contributing enough to your TSP and have a cash emergency fund it wouldn’t hurt to buy some Bitcoin. Plan to hold it for five years, don’t YOLO all your money into it, and you’ll be alright.