AboutLouis Schwarz, QFP, CFP®, RFC®. ChFEBC Expertise Over 36 years experience - discretionary investment management, advisory service, stocks, bonds, mutual funds, annuities, IRA, Roth, 403(b), 401k, tax planning, tax preparation, retirement planning, tax reduction, life insurances. I hold five professional designations: QFP, CFP, RFC, ChFEBC, and Paladin Registered Advisor with a professional rating of five stars.
Experience First deaf Certified Financial Planner licensee (http://www.cfpboard.org/), General Securities Registered Representative (Series 7), Registered Financial Consultant (http://www.iarfc.org/), Registered Investment Advisor, Qualified Financial Planner (http://www.iaqfp.org/), Admitted to Paladin Registry of Personal Financial Advisors (http://www.paladinregistry.com/); Chartered Federal Employee Benefits Consultant (http://www.chfebc.com/); Licensed Life, Health, & Disability Agent
Organizations Financial Planning Association, International Association of Registered Financial Consultants, National Association of Deaf, Alexander G. Bell Association of the Deaf, National Deaf Business Institute
Education/Credentials Gallaudet University, College for Financial Planning
Awards and Honors Who's Who in Finance and Industry, Who's Who in the World, NAD Flying Fingers Award, MDAD Distinguished Award, MCAD Business of Year, Montgomery (MD) County Business Award, 2007 Outstanding Business Person of the Year, Gallaudet University Department of Business
Question I need some advice concerning which short term savings/investment avenue to take. What would be the most prudent investment choice if I need money in the next 2-3 years for a down payment on a house? I am thinking that money markets and/or cds might be the safest choice and the most tax advantagous if I will need that money in 2-3 years.
Answer Hi, John
In terms of current markets and your short term goal, saving accounts, CDs, money market funds, short term bonds and similar fixed income securities (in order of risk from low to high in same category) are the most prudent short term investment which may be almost always a very low risk and low volatility investment.
NO matter which one you choose, all does not have any tax advantage because you will still pay taxes on earned interest.
Anyway, money markets and/or cds are still safe for you!
