Thinking about investing your down payment? 🚨 Here’s when you shouldn’t
Thinking about investing your down payment? 🚨 Here’s when you shouldn’t. When your goal is short-term (like buying a house in 1-2 years), your focus shifts from growing your money to protecting it. Investing in the stock market = risk of losing money because your goal is short term. I wouldn't invest money into stocks that I needed in the next ~5 years. The longer you can hold, the lower your risk. Instead, consider a high-yield savings account, GIC, or in the U.S., a CD (certificate of deposit). For Canadians, the FHSA (First Home Savings Account) is a game changer—tax-free growth AND withdrawals for your home purchase? Tax write offs for contributions? YES, PLEASE. You can even buy GICs, or invest in stocks where appropriate, within your FHSA. Be smart with your money and learn how to truly make it work for you. Want to know how I went from $40k in debt to millionaire by 30? My free training 'From Broke to Ballin’' is up on our website! Sign up and start your journey. ✨
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