Cash/Investing
Hi Terry,
I want to deposit cash every month for investing. First, some needs to be saved/invested for property taxes. Would you just park that in a high yield savings account or is there something better?
For the rest, would you fund a Roth first and then put the additional into an individual brokerage account? Or what is best to do?
Terry Says
Are you still working? If you have income, you can open an IRA, but you can’t open an IRA ifyou don’t have earned income.
If you qualify for an IRA, contact Vanguard or Fidelity. I can’t suggest investments as I have no idea of your age, risk tolerance or other assets.
As for setting aside money for property taxes (assuming that is not being done through your mortgage payment) yes, just use a bank money market deposit account.
