HomesteadDreamer
Dryer sheet wannabe
- Joined
- Dec 25, 2013
- Messages
- 24
We just sold some property and a home due to a relocation for work. We ended up closing on our new home before selling our previous home, so we didn't have the $ to put as a down payment. With that, I now have $140K sitting in a saving account and I'm not sure what I should do next.
I am 47 and my wife is 45. Our plan is to retire in 10 years. Right now, we're maxing out our TSP (I'm a fed employee and she is in the military). I'm relatively conservative with my money, so I don't want to get too risky with any investments with the money. One thought is to put it back into our new home to build equity by refinancing our current mortgage. But, I'd know that will mean I'd have to pay additional lender fees to do that. We are comfortable with our current mortgage rate and monthly payment, so we don't need to do that. I also thought about rolling it over into our existing TSP, or separate mutual fund.
I know that I'm not providing a lot of detail, but just curious what some conservative options would be to invest that money. Are there ways to invest it where it remains relatively liquid and accessible if we need to access it?
Any info would be appreciated.
Thanks.
I am 47 and my wife is 45. Our plan is to retire in 10 years. Right now, we're maxing out our TSP (I'm a fed employee and she is in the military). I'm relatively conservative with my money, so I don't want to get too risky with any investments with the money. One thought is to put it back into our new home to build equity by refinancing our current mortgage. But, I'd know that will mean I'd have to pay additional lender fees to do that. We are comfortable with our current mortgage rate and monthly payment, so we don't need to do that. I also thought about rolling it over into our existing TSP, or separate mutual fund.
I know that I'm not providing a lot of detail, but just curious what some conservative options would be to invest that money. Are there ways to invest it where it remains relatively liquid and accessible if we need to access it?
Any info would be appreciated.
Thanks.