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I'd probably invest a little bit of it, maybe 10-20% and the rest I'd stack in cds, savings accounts, treasuries, etc.
Subject Expert
When you do save for this need, if it is something you really need to do, and can't have I terrupted or canceled, you should use short term instruments since it's a short term need. If you used stocks or other risk assets for this purpose, they could crash right before you need them.
How big is this thing you need to do? How much do you need to save for it? How certain is the timing? How much do you save outside your 401k and IRA every year?
I'd probably run the HYSA up to about 75% of what I think i'll need and invest the rest. You still get some growth on what you invest, but won't be totally hosed if the market tanks
Depends on how much you are already putting away. When I was saving for a home and wedding I saved everything in cash except my 401k. I already had about $100k in the market outside my 401k. So for 2 years I knew I needed to save another $150k or so. That meant after my living expenses and moderate fun spending, everything went to cash. If I were in the same position today I would do the same, particularly given market volatility. High yield savings are 4%+ now.
Depends on your situation. I’d go stocks.
HYSA rates aren’t much higher than inflation so they’re kind of a wash
There’s a reason the bank offers 4% - because they know they’ll make atleast 8% with your money.
Just sayin 🤷♂️
Subject Expert
If the market crashes during the next three years will you step in to pay for the OP's wedding?
High interest savings.