Author Topic: Any suggestions on what to do with money saved for property taxes?  (Read 944 times)

Mutton Chop

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Hi Mustachians:

Hybrid Subject Here - Investments/Real Estate:

I realize that earning interest on such a short term situation is highly unlikely, but I figure if anyone has a solution, it's our mustachian friends!

As of next month, we do not have an impound account (re-finance to conventional loan to get out of PMI).  Our property taxes are $4,100 per year and we are putting approx. $350 away monthly for that.

Would you guys advise just setting this in a money market account, or are there any other realistic options where our money will work hardest for us?

MDM

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Re: Any suggestions on what to do with money saved for property taxes?
« Reply #1 on: February 12, 2015, 09:10:05 PM »
This thread, http://forum.mrmoneymustache.com/ask-a-mustachian/best-interest-rate-on-savings-account/, might be applicable.  You won't get rich on it, but you do have to put the money somewhere so you might as well get better than 0.1%.