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?
Answers | 1
Answered by James Pupillo, CIMA, CIMC, C(k)P, GFS, TFMC in Scottsdale, AZ
August 15, 2015
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!
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Answered by Kirby Thomas, Online Life Insurance Rate Comparison: Term.comPRO+ in San Diego, CA
Todd, I was in the military and in the first week they said set some aside. I didn...