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Where to keep our savings

 
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amother




OP
 

Post Thu, Sep 09 2021, 11:28 pm
B"h we have just reached a place of more financial security and can finally start saving in earnest. We have approx. $25,000 in savings and are saving around $1,500/month + our annual tax refund. We plan to put money away for 2-3 years and eventually use it for a down payment. Where is the best place to keep our money so we aren't losing any to inflation? Our bank saving rate is so low. Are online banks a safe option?
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amother




Stonewash
 

Post Thu, Sep 30 2021, 8:20 pm
Look into yotta. That's what we use.
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amf




 
 
 
 

Post Thu, Sep 30 2021, 8:32 pm
Your best bet is to put it into an index fund or the like. Its slightly riskier than a bank account, but the payoff is much greater, and if you plan to leave it there for more than a few years, the risk is very very low. Look into vanguard, it's simple to navigate and learn
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amother




Glitter
 

Post Thu, Sep 30 2021, 8:38 pm
Index fund invested in S&P 500. It’s where I keep my retirement fund.
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