Received small lump sum of money

[theshua]

@lili487

1. Yes, if you see a long-term, please pay off her CC debt completely. It is just dragging both of you down.
2. Treasury doesnt have a limit. That is just for the I-bond. You probably want to lock in the current rates for 1 year or 2 years before it drops.
3. High yield saving account or money market for your savings.
4. Some basic index fund ETF like SPY, VTI. Given the long-term purchase, you might want this to be on the lower side in terms of %.

 

[lili487]

@theshua Yeah! Meant to say I bonds, I looked into them I thought they only have 2 types. Yearly, and 6 month ones. I do a deep dive at work and make an account. Where is the best place to find or do EFTs? Use my credit union

 

[sozo33]

@lili487 What district are you in? $800K for a house is crazy in PA, I don’t care what school district it’s in

 

[theshua]

@lili487 Robinhood has a gold account for $5 a month. You can buy ETFs on there and get 5.5% yield on cash. They just gamify it a bit, so not good if you have itchy fingers.

Old plain fidelity or vanguard brokerage account would have ETFs and money market funds.

For treasury, there are notes and bills. One of them has a 2 or 5 or 30 yr option. There is some minor tax advantage to this of not paying local or state tax. 2 seems like a good compromise given your timeline.

 

[sarasmilesagain]

@lili487 You are kidding right? 800k and you are making 80k? Unbelievable, I don’t even know where to start.

 

[cfhclinda]

@sarasmilesagain 80k plus an additional 48k a year non taxable in his disability and I’m assuming he pays no property tax at 100%

 

[shadowgun1104]

@lili487 Even though her cc debt is before the marriage, she’s a sahm, how is it being paid now? Pay off her cc debt too.

Respectfully, you cannot afford a $800-900k home. Too much for your income-plus property tax will be high.

New furnishings, lawn maintenance, sounds like lifestyle creeping.

If the last 5 years have taught me anything, it taught me to stay put and find ways to make my money grow.