Roth IRA Suggestions?

[firemediceric]

Today I received a refund check of $50 after making another deposit a couple of weeks ago to my Roth IRA annuity. Apparently I have maxed out the contribution for the year.

This Roth pays a fixed 3% currently. I’m told it’s called an “annuity” because it cannot lose money, although the rate of return going forward can be adjusted up or down. It’s not a case of it paying out fixed amounts at set times as is the way I think of an annuity.

Any recommendations of another place I can get this kind of return without worrying about market fluctuations and the possibility of losing money?

I plan to access the money, although not the earnings, in 4 years to fund the down payment on a home. I need a safe place to contribute money over the next 4 years.

Suggestions?

 

[pb4uski]

For down payment money, I think CDs in a taxable account would be ideal.... a 4 year CD pays about 3%, perhaps a tad more.

Your Roth has the advantage of being tax-free for life, I wouldn't use it for a down payment unless you have no other choice.

 

[kaneohe]

Some 3 yr CDs: https://www.bankrate.com/banking/cds/best-3-year-cd-rates/

As that link shows even 1yr CDs in the 2.5% or so range.