- This topic is empty.
-
AuthorPosts
-
USER
How much is reasonable to have in HYSA? Right now I have roughly 40k and I’m wondering if I should have 50k or 60k. My son (13) and I (32f) are planning to possibly move with my boyfriend (30m) in the next year or so, but we’d be looking at renting, not buying. I’m just wondering if I should just be tucking away my excess savings into my HYSA or into my VTI with Vanguard?
ColinWhat are the savings for? The broad/general advice is to have an emergency fund of ~6 months of expenses that can stay in a HYSA. Beyond that, excess cash is just sitting on the sidelines when it could be invested. It depends on your goals and needs and what you’re planning for, but in general excess cash that doesn’t need to be spent in the near future should be invested for the long term.
EvelyneAs much as you can. It’s a triple advantaged account.
GonzaloIf you don’t need it in the next 5 years, invest it in the stock market…VTI in your case.
KhamzVaries honestly but 6 months expenses would be ideal. Put rest in other investments.
-
AuthorPosts
Related Topics:
- Which bank did you choose for your HYSA, and why?
- Should I move my $50k from Bank of America to a high-yield savings account (HYSA)?
- How can I afford a house in a VVHCOL with my current finances?
- What should I do with my HYSA after having enough emergency fund?
- Where to invest $4k monthly savings? Is $600k in HYSA too high? Should they buy more rental properties?
- Should I increase my 401K contributions to 40% or invest the extra money?
No related posts.