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this post was submitted on 05 Sep 2024
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Personal Finance
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Money market funds or CDs should get above 5% right now whether thats with a bank or brokerage.
It depends on your time horizon and risk tolerance. Typically dont buy stocks based on hunches... just buy index funds and/or interest bearing vehicles. I have a small basket of stocks, a lot more index funds, and then the majority of my holdings are in a money market fund in this high interest environment. I would consider rebalancing to more index fund allocation if interest rates diminish.
Thank you, I'll look into money market and CDs
Its important to be taking advantage of tax deferred savings btw. I just assumed these funds are all taxable savings and that you are already contributing to your retirement and health savings.
Simply investing your savings without putting money into iras/401ks/hsas would be a huge mistake in the long term.