We have $270,000 in first mortgage money that we plan to spend on remodeling in the next 8 months. Where should we hold that money?

Asked by Sharon

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Answered by James Pupillo, CIMA, CIMC, C(k)P, GFS, TFMC in Scottsdale, AZ
For this short term you best bet is a money market, albeit paying little interest. You do not have a long enough time horizon for other investments in pursuit of higher returns because the principle value would be subject to negative returns (principle loss) in such a short time period. Enjoy the remodel! | 08.15.15 @ 23:02
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$commenter.renderDisplayableName() — {comment} | 12.09.16 @ 13:58
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