I’m putting away $300 a month, my question is where to put it. savings account has basically 0 interest, there are HYSA (high yield savings account) that would give me 3-5% apy, or I already have some money in stocks that have grown consistently 25% over the last year (index funds only)

what would you guys recommend? I’m looking to buy it probably 3 years from now. that way either I’ve got a fat down payment or I can just buy it cash

thanks

  • RBWells@lemmy.world
    7·
    1 day ago

    High yield savings account or the short term Treasury bonds, and good luck with this, I hope at the end you have enough for a car AND no need for a car so you just have money.

      • RBWells@lemmy.world
        1·
        16 hours ago

        I have a car and love it (Accord Sport 6 speed manual) but use the electric bike to commute, and let the kids take the car since they have a longer drive. I want to keep it when they move out though, it’s just such a great car and harder to find stick shift now.

        But if it didn’t rain so much here, I do think I’d sell it to the kids (cheap since it’s paid off)

        Motorcycle insurance here is like $100 a year but car insurance about $300 a MONTH, so make sure you budget for all those extra costs, fuel, insurance, maintenance.