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I’ve been able to save 7k. I’ve been saving for a down payment on a house. I’ll get my pension next year bc I’m turning 60 so I’m hoping to save 8k by December 2024. My issue is that maybe I should invest some of the money or should I keep it in my savings account and keep saving? I’m a little leary about putting my hard earned money into investments.
BonnyCDs are paying well right now.
BrianMoney market. Over 5%.
MollyI moved all of my savings into a Cash Reserve account. Currently it’s earning 4.75% interest but it acts as a checking account. It can take 2-3 business days to move cash from the Cash Reserve into your regular checking, but otherwise acts the same.
No risk is losing the money, it’s not like stocks.
CindyIf you are saving for a down payment in BC it’s very hard to get a mortgage while on pension because if you don’t make payments they can’t take from your pension.
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