[USER]

Hi! I’m a 30 year old, not married with no kids.
I may have to quit working in about half a year to go to school for 1.5-2 years.

I live in nyc area with high cost of living and the tuition is about 67K for the whole program.

I’ve been saving cash to be able to support myself through school without any income.

I have
– 100k in cash (CD and HYSA)

– 95k in retirement account (401k and roth ira- maxed out for the year)

– 8k in VTI, VTSAX, Apple

– 11k in i bond

What would be the best financial move with my savings in my situation? Should I move more cash into taxable account and sell it when I need to pay tuition?

HYSA keeps lowering the interest and now it’s at 3.9%. Or is it too risky to move it to taxable account when I may have no income for a fee years with high expense?

I’m also planing to take out money from i bond that I started when it hit the highest rate a few years ago.

I’m waiting till next year to take it out and pay tax on it since I’ll have lower income then…

Thank you so much in advance!

[Kerri]

How much do you need to have to cover all of your expenses while you’re in school and then searching for a job afterwards?

[Joe]

I would not move it to a taxable investment account. You need the money too quickly.

The purpose of this money is to pay for school and living expenses, not to be a great investment.

How would you feel if you lost money? What about 20%?

[Noa]

Make sure the schooling is worth it! What will you be studying? Why?

[Frank]

Put all the cash in a money market fund and stop the nonsense with the CD and HYSA merry-go-rounds.

Also figure out how you can make some income while in school.

[Rob]

I would make sure whatever program you are taking will put you ahead financially once you take into all factors like lost income, tuition etc.

many people think spending thousands on an “education” will put them ahead when it really puts them behind.

[Jenny]

Use the HYSA , Cd, then bonds. You pay as you go. No need to touch your retirement accounts.

Get a part time job to supplement the costs.

[Author]

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