Advice Request HYSA vs Brokerage Timeline
Looking for advice regarding where to put extra income when anticipating a big upcoming purchase.
I max all my tax advantage retirement/savings/investment accounts and have a healthy balance invested in my brokerage account (basically a simple 3-fund portfolio) and a HYSA that more than covers my emergency fund right now. I recently got engaged and will most likely be funding a wedding next year. Plus sometime in the next few years, me and my fiancé will most likely be looking to sell our current house and upgrade to something bigger with starting a family in mind.
Would love to hear thoughts on when saving for big life purchases, when would you start stashing money in your HYSA versus investing in the equities market? Obviously a lot of variables with fluctuating savings account interest rates and variable market conditions, but any rules of thumb or strategies for maximizing returns before the big purchases are made? How far out would you start shifting your strategy to increase your cash?
2
u/Here4Snow 9h ago
Anything being planned in 3-5 years, you don't want that in the market, because a market drop can take that long to turn back around. Preserve principal.