Re: A Vexing Choice faced by money novice...

From: elaine steward <esslady@ix.netcom.com>
Subject: Re: A Vexing Choice faced by money novice...
Date: Sat, 25 Jul 1998 13:17:48 -0700

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> 1. Put extra money into my retirement account each month. I work in higher
> ed and have my retirement money in TIAA-CREF (actually, all in CREF stock
> funds). 
> 2. I have no "three-month" cushion, or any # of months cushion in savings
> -- so accessible savings is also a goal/priority for me.
> 
> 3. Also, I would like to pull together a (to me) considerable sum of cash
> to be used as a downpayment on a house or property I'll get around to
> wanting to buy within the next 2-4 years.

> tia,
> Bonnie

1. Three month cushion in money market, CD's or some other "cash"
instrument.  

2. Save for house.  This is assuming that you can't borrow from CREF for
a house downpayment (the plan I participated in would not allow this). 
IF you can borrow from CREF for a down payment, increase your retirement
contribution after you've accumulated the 3 months' "cash."

3. Increase your retirement contribution.

elaine



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