Where should i keep my money while saving for a house reddit

Right now I have about 20k in an ally savings account that I eventually plan on using as a down payment on a house once I'm ready (Another 1-2 years). Right now I put $1600 a month into that account so it is actively growing. I also have my 401k with the company match to 6%. I have the ability to go as high as 50% of base pay, but the match is only to 6%. Then I have $11k in a Roth IRA which I max out every year. I also have a full emergency fund. Should I continue to add to my savings account since I want to save for a house or should I move it elsewhere?

Hi,

I'm a 30yo Dutch resident. I have about 20-30k that I'm planning to use for big purchases in the next 5 years or so, for instance a house, car, etc.

In the Netherlands, most banks give a close-to-zero interest rate on savings accounts. Some (like Lloyds) give around 0.15%, which is not a lot but better than nothing. Does it make sense to open an account there to keep my savings? Or is better to invest in something with very low risks and low returns (such as bonds)? Or is this too much of a hassle, and I should rather accept the fact that inflation is a pain and I can't do anything about it?

PS I'm already investing monthly for the long term, and obviously I'm not planning to touch that money any time soon.

Thanks!

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r/Bogleheads

Posted byu/[deleted]1 year ago

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Right now I’m doing mostly a HYSA and then trying to max out I-Bonds.

Is that the best way to go? Ideally I wish I didn’t have to pump it all into an HYSA since yields are so terrible, but what can you do.

Thanks!

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I'm planning on purchasing a house next year (probably around summer time). I usually don't keep much cash in my savings. I usually invest my money as soon as I receive it, but because I'm purchasing within a year, I haven't done that.

I'll have the downpayment ready in the next few months, but I also don't really want to have it sitting in my bank. Stocks are cheap right now, so I'm pretty tempted to buy with my downpayment money, but if the market crashes further in the next year, then that would probably delay me from purchasing a house, so I'm wondering what other options I should explore in my position?

Hello - after reviewing the FAQ's I didn't find much information on what type of savings account/investment account is best to store money when saving for a house down payment. I currently have my emergency fund at my 6 month expense mark and currently contributing 15% to my 401k so I am comfortable with putting my extra income into a house down payment.

I plan on saving ~$600/month for the down payment but was hoping to find something better than my Money Market savings account to store the money. I am currently looking at buying a house in about 3-5 years so am comfortable taking more risk than a normal savings account.

I would appreciate any advice on what type of accounts would be best and what to look for when choosing a provider for the account.

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