#RuggeroRespigo on #Reddit #stockmarket Just came into some money in connection with the sale of my first home. Some questions. I have about $215,000 sitting in the bank. I bought a condo when the market crashed, and was able to sell it at a decent profit, though a good chunk of the money was money I put down on the property to begin with. I have a couple of questions. First, my understanding is that because this was my primary residence for at least 3 of the last 5 years (literally just moved out into a rental), and because Im single, the entire profit (up to $250,000, in fact) is exempt from taxes. Is this correct?Second, I anticipate buying a property again, but probably not for a little while. I just moved across the country, and Im not sure Im going to settle down where I am now or not. So, Im trying to figure out where I can put all this cash with a 3-10 year horizon. I know that puts me in short to medium term, which complicates things a bit. Id say my tolerance for risk on at least most of this is pretty low. I have $20K in risky assets in the stock market at the moment.All advice is appreciated.
Posted on: Tue, 27 Jan 2015 23:44:24 +0000