Hello,
I'm 31, my retirement accounts are in good shape, but my near term savings have recently been spent on various home improvement projects including new windows last year and a $10,000+ vinyl siding project that was completed this morning. I nailed the last GOOG high selling at $590 providing me with $8000 toward the siding bill. It is currently sitting in a savings account earning 3% and getting $150 per paycheck ($300/month) automatically added to it. What do you think about moving this into SPY for the year and selling if there is a 10-20% pop along the way? Best case I'm looking to make an extra $1000-$2000 off that money and add to to my non-retirement savings before it's spent on the vinyl siding bill. If the market continues to go down and I lose 10% of it that's not a disaster. Yes, I have the discipline to sell when the time comes. I have 12 months interest free financing for this project and the clock on that started this morning. Every little bit helps. Leave it in the safe savings account and continue to add to it as is? Move it into SPY or SP500 fund? What do you think?
-Raymond
I'm 31, my retirement accounts are in good shape, but my near term savings have recently been spent on various home improvement projects including new windows last year and a $10,000+ vinyl siding project that was completed this morning. I nailed the last GOOG high selling at $590 providing me with $8000 toward the siding bill. It is currently sitting in a savings account earning 3% and getting $150 per paycheck ($300/month) automatically added to it. What do you think about moving this into SPY for the year and selling if there is a 10-20% pop along the way? Best case I'm looking to make an extra $1000-$2000 off that money and add to to my non-retirement savings before it's spent on the vinyl siding bill. If the market continues to go down and I lose 10% of it that's not a disaster. Yes, I have the discipline to sell when the time comes. I have 12 months interest free financing for this project and the clock on that started this morning. Every little bit helps. Leave it in the safe savings account and continue to add to it as is? Move it into SPY or SP500 fund? What do you think?
-Raymond