So I just read WCI's latest post and I am sold on starting a Taxable Account.
I'm a young attending, 2 years out. No loans, single, no kids yet (but planning in the next 5 yrs), just a mortgage on a condo at around a 3.3% interest rate. So I don't have a lot of options for tax free accounts, unfortunately. I maxed out my 401K at 18,000$ per year and I do the backdoor Roth at $5500.
I have about 150k sitting in an Ally 11 Month CD at growing at 1.5%. I'm interested in moving it to a Taxable Account.
I'm a little worried that if I dump it all in at once, and we go into a dip (I know I know, don't time the market) it would kinda suck. I know I should ignore all these doomsday announcements about likely corrections, and at least I could do Tax Loss Harvesting, but...
Also, should I open an account and add in $2000 every two weeks to a month until it is all in there?
Lastly - I might need some money for a down payment for a house in the next 5 years. Should I only invest what I won't need for the down payment?
Thanks!
I'm a young attending, 2 years out. No loans, single, no kids yet (but planning in the next 5 yrs), just a mortgage on a condo at around a 3.3% interest rate. So I don't have a lot of options for tax free accounts, unfortunately. I maxed out my 401K at 18,000$ per year and I do the backdoor Roth at $5500.
I have about 150k sitting in an Ally 11 Month CD at growing at 1.5%. I'm interested in moving it to a Taxable Account.
I'm a little worried that if I dump it all in at once, and we go into a dip (I know I know, don't time the market) it would kinda suck. I know I should ignore all these doomsday announcements about likely corrections, and at least I could do Tax Loss Harvesting, but...
Also, should I open an account and add in $2000 every two weeks to a month until it is all in there?
Lastly - I might need some money for a down payment for a house in the next 5 years. Should I only invest what I won't need for the down payment?
Thanks!
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