DIY Money | Personal Finance, Budgeting, Debt, Savings, Investing How to Invest for Short Term Goals
Apr 12, 2024
The hosts discuss different styles of climbing, share a personal hiking mishap, and transition into a conversation about investing for short-term goals. They explore low-risk investments and alternative options like money market accounts and treasury bonds to achieve financial goals efficiently.
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Logan's Cliff Climbing Accident
- Logan shared a personal story about climbing a cliff wearing sandals, which led to a fall and a broken heel.
- This accident stopped him from climbing outside again due to the injury and risk involved.
Avoid Risk for Short-Term Money
- Avoid investing money needed within five years in risky assets to prevent losing principal when needed.
- Use very low-risk options like money markets, CDs, or treasury bonds for short-term goals.
Small Savings Add Up Big
- Earning even a small return on short-term savings adds up over time and helps overall wealth.
- Mindful financial habits, like avoiding unnecessary fees, can save substantial money annually.