I’m putting away $300 a month, my question is where to put it. savings account has basically 0 interest, there are HYSA (high yield savings account) that would give me 3-5% apy, or I already have some money in stocks that have grown consistently 25% over the last year (index funds only)

what would you guys recommend? I’m looking to buy it probably 3 years from now. that way either I’ve got a fat down payment or I can just buy it cash

thanks

  • ocean@lemmy.selfhostcat.comEnglish
    7·
    14 days ago

    Definitely HYSA over savings for everything. Don’t sell your stocks. Btw are you not investing in an IRA?

    I would plan on buying used. New isn’t worth it!

    • suburban_hillbilly@lemmy.mlEnglish
      8·
      14 days ago

      “New isn’t worth it” depends greatly on what you’re buying and where you live. The used car market has changed dramatically over the last 4-5 years. Around here at the low end of the market a 2 year old used car with 30kish miles is only ~15% cheaper than the same car brand new. The new car also comes with the full warranty, frequently some level of free regular service & loaners, not to mention no wear and tear. The days of a car losing 25+% of its value for merely being driven off the lot at sale time are long gone.

    • strawberry@kbin.earthOP
      1·
      13 days ago

      I just finished high school so I haven’t gotten around to everything yet. I agree, used, there’s barely any fun nenew cars

      I’m looking at probably a 350z rn and u said to not sell the stocks, why? I’d probably want that money towards the car. theres a bit over a grand in there