Best Savings Methods to Save 40k in 2 years on a 60k Salary?

[Anthony M Schlitt]

I'm recently out of college and looking to start investing in RE. After reading David Greene's Boor on BRRRR, I'm looking to get startedt as soon as I can put away enough in savings to outright buy a property to rehab. Based on my current budgets and goals, putting away another 40k in the next 2 years should get me going. I'm always looking for ways to increase my savings rate, but my question is this: What are the best types of accounts to save incremental installments of money for a time period of about two years?

Options I've considered:

• Savings Accounts @1%
• Money Market Accounts @2.15%
• 1yr CD's @2.65%

[Tom Makinen]

You can go on peerstreet and invest in some short term notes. I have seen them between 3-12 months at 5-10% APR. They are short and liquid enough that I think it is a valuable tool. Obviously stock market has some crazy swings. You can hit it big or lose 20%, but it is liquid.

I am also doing lendingclub, but after my 4 years of testing.  I think I am officially out on it.  People are just too unreliable, way too many dishonest jerks out there.  My return in 4 years of play A-C notes net me only about 6%.  The money is not liquid and you can say bye to it for 3 years once I put it in.  It's too long, too risky, too little return.