Updated over 9 years ago on . Most recent reply
Investing your Reserves
What are some strategies you guys are using with your reserves?
I am starting to realize that having quite a bit of money sitting idle in a checking account is pretty ignorant. This money could be working for me in another way.
My goal is to find a way to invest my $ for reserves/cap ex but also have it easily and quickly accessible. I'm not looking for big gains but something better than a non existent checking account.
I have heard the idea of using a HELOC for the purpose of cap ex. I'm sure their are negatives to this strategy.
Let me know what you guys are doing!
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What about a whole life insurance account? You beat inflation and make a little bit while the money is in it. When you borrow from it you still get a tiny bit. This takes years to build up though so it's a long term plan. Thoughts??