YES!!!!!! He did the right thing.

Member:

RIMS AND TIRES.
HAHA, I know that was a shot at me. Just so you know, I did the right thing and did not buy the wheels for my truck. I am going to take that $2,500 and do something else with it. Any suggestions?

(see 4/21 post)


Money Prof:

That's GREAT, really glad to hear that.

Since you're already putting enough per month in IRA, suggest putting it ALL plus your bank money that won't be used in next 3 months into the rainy day acct. Open another acct with your broker.

Any money you might use in less that 3 months keep in MM, money that you might use in a few months put into 3- 6 month CDs, ONLY money your 100% sure you won't use in the next few years put into laddered CDs.
Divide evenly over 1-5 yr CDs to save for a house, business etc.