I have $10k in liquid savings for the purpose of buying a house. I want to save the full %20 down + closing costs + maintain an emergency fund. I am anticipating having what I need about this time next year. What would be a good investment for my 10k for the year's time? A few shares of Intel? A few shares of Apple? Index fund? Want to be safe, and be able to get my money when needed, but I don't want to let it just sit in a savings account and do nothing. I also am not in a huge hurry to buy a place, but thinking of next year as more of a window to get started looking. I'm also going to have about 1k per month going forward that I can do something with as well.
With such a short time period be prepared to lose a good chunk of your money and have to put off buying a house if you invest it. I would park it in a money market account or one of the online savings account. You could probably get close to 1% return. Needing the money in a year makes investments extremely risky.
>>1098182
I was thinking the same thing actually. It would probably be too much of a gamble and I would probably at best break even due to fees & taxes.
>>1098196
Barclays online savings is 1 percent interest. It's what I'm using for my home savings
>>1098182
>>1098196
>>1098202
>1%
Really? In Montenegro (where I live) the bank will give you 3-3.5% on a yearly investment provided you don't withdraw any of it until a year has passed.
On the flip side, if you wanna get credit from the bank, the rates are comparatively large (and obviously a bit bigger) so if you take out a 30k loan for 20 years, be prepared to pay back like 65k.
>>1098229
We have that essentially with CDs too.
>>1098159
>10k now
>20% down payment (60k), closing costs (8k), emergency fund (15k)
>will have enough next year
I want to live in your housing market.
>>1098253
>15k emergency fund
Literally a waste 5-7500 max
>>1098257
A waste would be throwing it away. Savings accounts beat the market in bear markets and if your used car breaks down you should always be able to buy another one cash. I'm from a high cost of living area anyways, 15k is about 7 months.
>>1098253
Raleigh/Durham NC. To be fair, I'm looking at stuff out away from town. Still, going ~40,000 down, 12k emergency fund. Will get a fixer upper with a nice big yard. Also /diy/ and have the requisite knowledge for a remodel, just finished helping the parents completely redo their house. Want a decent amount of free cash so I can build a shop building, grow a garden, all that good stuff.
>>1098281
Just paid off my car actually, it's a 2010 and I take good care of it so it will last. I agree though, next car I get will be used and I want to write a check for the full amount.
Fha or first time mortgage will get you in at around 3% down. You can put in your offer that the seller pays closing fees, or roll those fees into your mortgage.
What sort of liquids do you save that are worth $10k? Are piss bottles really that valuable now? I'm going to start a piss mining pool where me and my buddies all piss together in a circle into bottles.
Thanks OP.
>>1098159
google money market mutual fund
>>1098866
>>1098866
Gold is a liquid at several thousand degrees mr pepe
> Accumulated 50k over two years, all sitting in savings
> Still can't afford 10% down on a home in Seattle
> Average home price is 500k+
Should I seppuku?
>>1098159
Invest in UWTI brah it went up like 18% today.
>>1099144
I live in Seattle too and I totally feel your pain.
But remember anon, it's darkest before the dawn. You've saved 50k in two years, you're gonna make it brah.
>>1099160
Thanks anon. Hope fortune favors you too.
>>1099160
I was really bummed out last month. I'd been looking for a new job for forever and it seemed like it was never going to happen. Things finally turned around and I just accepted an offer earlier today, feels bretty good.
