I just sold my house and I think I will put the money into another property. Where should I put it so it can it be earning something until I buy again?
~ May
Dear May,
Good question! Currently with the interest rates as low as they are, a savings account will earn you about a whopping 0.06% annually. At the other end of the spectrum is the market, which may do well, but also may drop in the short term. A one year CD is about double the interest of a savings account with a guarantee of increasing value. That being said, since interest rates are so low and future inflation is probable I would prefer to help you analyze the amount required for a down-payment on a future home and consider investing the remainder in some long-term investments. If you would like to have a discussion feel free to call, email or book some time on my calendar. Aloha!
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