You're listening to Ramsay every day millionaires or we talk retirement building wealth and outrageous generosity

Shadanooga Tennessee Reggie welcome to the Ramsay show

Thank you for taking the call there George. Absolutely. How can I help?

I would like to know what will be the best way to invest $10,000 so that it's liquid

so that it's accessible for things like purchasing a car and for me home improvements you know renovating

a home being able to have access to it but it makes enough money that I can do those things.

So you want your money to make money? Yes sir. I love that. Well you have two conflicting

words here invest and liquid and when I hear liquid it makes me think I would not invest that.

Now if this is a long-term goal we're talking five years out and you want it to be liquid sure you

could invest that in you know just a normal brokerage account outside of retirement and some

mutual funds or index funds and have that money grow for you but it sounds like these these short

term goals of yours this is less than five years on the horizon correct? Yes. Okay at that point I

know it's not fun it's not that sexy but I would park that in a high yield savings account which

right now will get you about a half a percent. Okay how are you of savings? Is that disappointing to

hear a half a percent? Oh yes. Here's the good news. If you invest that money you might lose

five or ten or fifteen percent. You tracking with me Reggie? What I want here is to keep your money

safe so it's going to grow at a very small rate but right now I would not be throwing this money into

the market when it could become five K instead of ten if you need this thing six months from now.

What if I just want to wait for a year hold for a year and see what it has done for me and then do

the time horizon on that is still too short where you're going to see it's too much of a rollercoaster

when you look at the market on the long term it's a steadier incline but when you look at the short

term man it is a rollercoaster and that money is going to get jostled around and if you need that

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