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Updated over 1 year ago on . Most recent reply

Saving for house hack...where to park savings?
Hi. I'm saving for my first house hack and trying to find the ideal place to park my savings. Criteria are: liquidity, safety, tax protected, return, and able to pull cash out when it's time to purchase.
I opened a Roth IRA with Betterment with the intention of investing mostly in Bonds. Stock market is too volatile and I don't want it to drop right before I'm ready to pull the money out for a down payment. (I already know I am limited to $10k as far as pulling out any earnings in the Roth penalty-free for a home purchase but I can pull out the entire basis without tax or penalty.)
But maybe even bonds are too risky.
I also have a high yield savings account that pays 5.5% with Wealthfront. Should I stick to the savings since it's FDIC insured?
What would you do? Thanks!
Most Popular Reply

5.5% on an HYSA is really good, I would stick with that. I'm in the same boat as you, saving as much as I can to fund my first house hack. We will get there!