Saving for a down payment for a house. What to do with current savings?

statik213

Golden Member
Oct 31, 2004
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or are there better (safe) alternatives? Is there anyway to get a tax advantage using this saved money?
 

AgaBoogaBoo

Lifer
Feb 16, 2003
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Put it into a higher yield savings account - INGDirect, Citibank's e-savings account, etc. will get you over 5%. This is a safe start.
 

mugs

Lifer
Apr 29, 2003
48,920
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If you're planning on using it in the near future, I'd just put it in a ~5% savings account.
 

statik213

Golden Member
Oct 31, 2004
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Originally posted by: mugs
If you're planning on using it in the near future, I'd just put it in a ~5% savings account.

Probably at least 2 years away from closing. so I'm looking at other options as well.
 
Apr 8, 2007
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When I first graduated college, my first job's signing bonus was 10k and I took the money to alantic city and play blackjack all night.
I came back and use the winning for a new car and down payment for an 500k apartment.

I won close to 100k that night, started off with 100 dollar hands and play a few 5000 dollar hands.
I stopped playing when I hit 2 blackjacks, 5000 dollar hands.
 

everman

Lifer
Nov 5, 2002
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2 years out, go for a money market or high yield savings account and you should get around 5%.