{ "media_type": "text", "post_content": "Best place to invest $5k? Need access to it in the next two years. Already maxing 401k and HSA. Stick in savings, traceable investment, or open a Roth 401k?", "post_id": "5e0e93dec07fb3001c1d674d", "reply_count": 28, "vote_count": 1, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }

Best place to invest $5k? Need access to it in the next two years. Already maxing 401k and HSA. Stick in savings, traceable investment, or open a Roth 401k?

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Just put it in a high yield account for 2 years or a CD if you want to make an extra $20

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If you need access to it, high yield savings

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HYSA or CD

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VSTAX

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Something with guaranteed value like a savings account or CD. Not stocks or bonds. Do you have an emergency fund with 3 months of living expenses in savings? If not keep saving and start investing once you have a healthy rainy day fund..

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OP I don’t think you can “open a Roth 401k” if you are already maxing your traditional 401k. Correct me if I’m wrong.

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@BCG1, I totally agree that it’s not appropriate for a 2 year horizon. I did want to point out thought that you could contribute more, because I didn’t know that at first for 3 years so I did want people to be aware.

Roboadvisor like Wealthfront

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2 years is short term. You need to put it somewhere safe and that doesn't restrict access. HYSA or 2 year CD (or whatever has best rate). Other options either carry risk (you could lose the $5k) or restrict access (can't withdraw in 2 years or have to pay penalties that negate any benefits)

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Risk tolerance?

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Then do CD or high yield savings.

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Stocks!

Questrade etf

Don’t bother, just buy a nice tv or something

If you’re comfortable making stock picks on your own — Robinhood is super easy with no fees and your money is pretty liquid. My portfolio is up 24% this year.

Well the S&P is up 30% so sounds like you are underperforming large cap equities..... Which by the way is not a suitable asset class due the OP with a 2 year time horizon

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Schwab’s Intelligent Portfolios maybe, their min is $5k I think

$25k it is

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