Ask Terry Questions investing money gained from condo sale

investing money gained from condo sale

By Terry Savage on July 17, 2019 | Chicken Money

Hi Mrs Savage, My wife and I have a contract on our condo. We are planning to build in the west suburbs, but are unable to begin construction til May 2020. Thinking cds are the best option to make a bit with the money til construction begins… you agree? ….and if so can you suggest some cds?

Terry Says

This is money you definitely do not want to risk.  It doesn’t matter how much you earn — just that you don’t lose ANY of it! That’s the true definition of “chicken money.”  If you choose a CD, make sure it is not longer than a year. And put some in a money market deposit account so you have easy access. Don’t let this money burn a hole in your pocket!  Any major bank will be fine since you are only looking for a short-term parking place.



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