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Updated over 5 years ago,
Where to put money?
Hi, I am currently looking for a home to buy to use as a rental property and that process may take a week or 6 months I am not rushing into anything when I see the right place I will know it.
Now on to the point of this thread. I have roughly 10,000$ saved up and I want somewhere to put it that is safe and liquid while making me a little money in the meantime. I have been using Betterment to store my money for a while and the money has always trended upwards when it has been in there and the money is pretty liquid (it takes 4 or 5 days to get it out) but I am afraid that there will end up being a huge loss on the market during the time I find the right house and will have 2 options either let the house go or accept the loss.
So I am heavily considering putting my money in here instead. 5% interest is not to bad for a bond like this and the risk seems minimal. Worthy Bonds can be cashed out at any time, I am intending on calling them tomorrow to get a better feel for the time frame it takes to get money back.
https://worthybonds.com/index.html
I also intend on putting the rents I get from tenants in here so that can be growing a little while I wait to get enough to get another property (probably 1 year to 1.5 years).
Just seems to be a huge waste to let the money sit into a savings account and get virtually nothing for it when I can make a little. Just wanted to know what you guys thought or if you have any better ideas for a safe, liquid way to grow money. Thanks