Investing my money market cash
I am a 63yr old man. My question if you had one hundred thousand dollars sitting in a money market fund what would you suggest I do with it.
I have approximately one hundred twenty five thousand in a vanguard account portfolio going no where at this time.I owe approximately two hundred fifty dollars left on my mortgage house is worth about five hundred thousand dollars. I’m retired and currently collecting approximately five thousand a month in income. What would you recommend please thank you take care and stay safe.
Terry Says
If your house has a mortgage rate under 4% I suggest you leave that as is. I would take that money and invest it in 3 and 6 month Treasury bills. Read this article: https://www.terrysavage.com/t-bills-beat-cds/ You can stagger the maturities — buy some now, and wait two weeks to buy more, and do that again in two more weeks. Set them up to automatically renew at maturity. The interest will drop into your bank account. Save some in the MM fund for immediate access in an emergency.
It sounds like you’re not married. As long as you don’t get married, you should be ok with this strategy!!
