How would you invest $120K? And need to use $50K for taxes next year?
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Anonymous
| Hi - If you had $120K to invest, how would you invest it? Assume that by April 2025 we may need to use approximately $50K to pay taxes. Would you put it in the market (Vanguard 500)? Would you put half of it in a CD and half in the market? Assume that we funded HSAs for the year, have a healthy rainy day fund that is liquid, etc. |
Anonymous
| I would not put the money I need for taxes in the market. I'd put it in a CD or HYSA. For the rest of it, it really depends on the rest of your portfolio. Also are you saving for kids' college? Do you have a mortgage? If the rate is above 5% and you have a lot of other money in stocks, reits, bonds, etc., maybe consider using the remaining $70k towards a recast. |
Anonymous
| We're considering using an additional $100K to pay down the principal on a mortgage. No specific savings for college but the thought is that investments in the market, etc., will help pay for college. We have nearly $1M in 401Ks. Couple in mid-40s. |
Anonymous
| What is your current mortgage rate? |
Anonymous
| The $50k into high yield savings account. The rest needs to go where it does the most good. |