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And, he advises, "Don't have more than three to six months sitting in cash.
People like the comfort of money in cash because they're burned from 20, but inflation will eat away at your cash.
That said, if you have the available cash and risk tolerance, investing in residential or commercial real estate may be a good fit.
"Another good tool people don't think about are HSAs," he says, referring to the savings accounts for which people with high-deductible health insurance coverage are eligible.
"If you sock money away in an HSA you don't lose it, and whenever you have healthcare costs, you can pull the money out and not pay taxes on it.
Sitting in comfort is not a good way to make money." Using a credit card might not feel like putting your money to work, but choosing a card with rewards appropriate for your lifestyle (read: airline miles cards aren't great for people uninterested in travel) means each dollar you spend on your cards is doing double duty.
"As a financial planner, we don't like debt, but if you have the cash flow and predictability in your budget and you can pay off your bill every month, there are great credit cards out there," says Gould.
Over time, Gould says, worrying dips in the market should even out, resulting in an overall gain.