Dave says: Find a good money market account |

Dear Dave,

My wife and I are completely debt free and are saving for our first house. We currently have about $140,000 in savings and would like to purchase a house with cash when the time comes. Where should we invest our money so that it works for us and we save more at the same time?

Andy

Dear Andy,

If I were you, and maybe with a three or four year window, I would just park the money in a good money market account. You won’t make much from it, but your money will be safe. I mean, all you’re looking for is a clever place to keep it for a while.

When it comes to long-term investing, I’m a big fan of growth stock mutual funds. The problem with that in your situation would be the volatility of the market. If you’ve saved more money and spent time deciding on a home, the market may be down.

Financially, you two are doing great at the moment. Imagine how incredible it will be to have a new home and be debt free in a few years!

–Dave

Dave Ramsey is an eight-time national bestselling author, personal finance expert and host of The Ramsey Show. He has appeared on Good Morning America, CBS This Morning, Today, Fox News, CNN, Fox Business and many others. Since 1992, Dave has been helping people take control of their money, build wealth, and improve their lives. He is also CEO of Ramsey Solutions.