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Rising Star
So I had all my rounds at Walmart, submitted documents, salary negotiation completed with HR and post that she says that she needs some approval from the business and then will release offer letter. It's been 3 weeks and I followed up every week and the reply was always "we are yet to hear back from business" until today when she said me go ahead with your other offer in hand I don't know if business will approve or not.
I wanted to know if anyone else faced a similar situation? Walmart
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Mentor
Mentor
One year is a short term outlook, so to preserve capital HYSA is your best option.
Park it in HMBradley, direct 1% of your paycheck to the account, and enjoy 3% risk free (FDIC insured).
This is the way to go.
Coach
If you need the money in a year just stick it in whatever HYSA you can find with the highest APY. You don’t want to take the risk that stocks or bonds drop and you suddenly are down 20% and can’t buy a home.
I mean obviously stocks will have a higher return but in a year time frame that’s generally an inadvisable risk
We put money in a Roth IRA because I believe as long as you only withdraw principal and not any gains, you can do it without penalty. We did it for our first house a few years ago so might be worth looking into the rules to make sure that’s still accurate.
This is true - since it’s post tax dollars, you can withdraw your contributions at any time. I believe you can also withdraw up to $10000 in gains for your first house.
That said, once you take that money out of the Roth… you can’t put it back in, so it ceases to grow tax free. You are essentially giving up the tax benefits that you had for that money. So I would recommend keeping money you put in your Roth in your Roth.