It’s that time of year, when the inbox is bulging, so time to get cracking on a lightning Q&A! Related Articles I will be receiving $160,000 from a life insurance policy. I do not want to risk it in the stock market — I want to put it somewhere safe where it’ll be able to earn some interest. Your thoughts? You can investigate government securities at TreasuryDirect.
gov and also check out Certificates of Deposit. Just know that when the Federal Reserve begins to cut interest rates, a strategy that provides safety will not seem as appealing, but I trust you when you say that you do not want any risk. My wife and I are in our 30s and are looking to buy a house in the next few years.
Currently we have about $140,000 in retirement savings. Can we press pause on retirement contributions for a year or two, so that we can start saving for a down payment? When near term goals crop up, it is fine to incorporate them into your longer-term plan. So yes, a temporary pause/reduction should be fine, but I recommend that you contribute enough money to capture the company matches, if you are entitled to them.
Once you have enough saved for the down payment, you can start cranking again on retirement. I’ve been with a small investment group, and they have been quite helpful and educational, but I’m thinking that as we approach retirement, I could save some money and handle things on my own. Are we close enough to retirement so that we should stay with them, or is it time to minimize .