I have about $30K+ aside from my 6 month emergency fund that I have sitting in a HYSA. I am in the military and maxed out my TSP & IRA contributions already. My goal is to buy a house within 3 years. Should I put this extra chunk of $ in a mutual fund and hope it grows? Or keep it in a HYSA?
Posted by maaacky
1 Comment
HYSA is safe if you are risk averse- mutual funds carry some risk but it’s relatively low. However, 3 years is not much time to recover your investment if there is a recession (which lots of big brokers have been talking about for months). Personally I would stick to the HYSA for the purposes of short term savings unless you can find a higher rate in a CD if you’re good with locking up the money.
Disclaimer: I’m no finance bro, just a dude that plays in the markets a bit but also has a financial advisor.