| Saving for a house downpayment - mutual funds vs. CDs |
|
|
|
|
|
ckelley03
New Poster
Cash: $ 0.45
Posts: 2
Joined: 23 Mar 2006
|
| Saving for a house downpayment - mutual funds vs. CDs |
 |
|
I have about $17,000 that is in a CD that will mature within a month that is going to be used for a downpayment on a house next year. I will add aprox. $15,000 more before next spring and am wondering if I should continue putting this money in a high rate CD or a mutual fund.
Any advice would be greatly appreciated.
Thanks!
|
Thu Mar 23, 2006 7:27 pm |
|
|
JBendar
Senior Member
Cash: $ 49.60
Posts: 271
Joined: 22 Mar 2004
Location: Woodbridge, New Jersey
|
| Down payment on house CD or Mutual Fund |
|
|
ckelley03:
Anything that is important to you should be taken seriously. If you want to have the down payment for your house, you should put your money where you know it is secure. It will not give you the higher return that a mutual fund will give you, but you also will not lose anything. If you have a long time horizon, and you are not buying your house in the next few years, then you can afford to take a chance if you want. It depends on your tolerance for risk. Some people do not want to risk at all, while others will take more chances than they should. It is an individual decision. IMO you should keep your money in the CD, and be guaranteed you will have it when you need it.
JBendar 
|
|
Thu Mar 23, 2006 8:05 pm |
|
|
ckelley03
New Poster
Cash: $ 0.45
Posts: 2
Joined: 23 Mar 2006
|
thanks guys, that's what my plan was, but my wife wanted me to look into some low risk mutual funds. Most of the funds that I saw were getting about the same return as my original CD, so why take the extra risk, right?
I'm most likely staying with a CD.
|
|
Thu Mar 23, 2006 8:47 pm |
|
|
|
