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Reply to "where to keep downpayment"
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[quote=Anonymous]I keep any money I think I may need in the next three to four years in a savings account or bank CD. At this point the interest on CDs is so low that it is generally not worthwhile locking up the money. There are some online banks that have somewhat higher interest rates on savings accounts than the banks with offices in the Washington area, but basically interest rates are really low right now. Better means .8% instead of .2%. I don't know of any other investments that don't have any risk of going down. I keep most of my retirement money in the stock market because I don't expect to need that money in the next three to four years, but I wouldn't do that for funds that I think I will need in the near future. Of course, if you like to gamble you may get lucky. Anyone who put money in the stock market three or four years ago is doing very well right now. [/quote]
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