03-20-2022, 01:19 PM
-Thread moved to off topic as requested-
There is obviously no right or wrong here. But I'd just like to point out that you don't exactly need to pick between cash and equities, you can always split it. Nothing wrong with saving a little (in cash) and investing the rest, this way you'll have a nice pile of cash no matter what but you'll also keep investing into the market.
Also, keep in mind that 3 years away is a long time. A lot can change between now and then. The closer you get, the more closely you'll begin to see how much cash you'll really need, and how much you'll get for your old car if you have one. Also that 3 years could easily turn into 2 or 4 years.
So whatever you decide, just remember to re-evaluate the plan every 6 months or so. It's good to have a plan but you are planning so far ahead that you need to remember to keep it flexible.
There is obviously no right or wrong here. But I'd just like to point out that you don't exactly need to pick between cash and equities, you can always split it. Nothing wrong with saving a little (in cash) and investing the rest, this way you'll have a nice pile of cash no matter what but you'll also keep investing into the market.
Also, keep in mind that 3 years away is a long time. A lot can change between now and then. The closer you get, the more closely you'll begin to see how much cash you'll really need, and how much you'll get for your old car if you have one. Also that 3 years could easily turn into 2 or 4 years.
So whatever you decide, just remember to re-evaluate the plan every 6 months or so. It's good to have a plan but you are planning so far ahead that you need to remember to keep it flexible.