I am nervous about having too much money tied up in banks right now considering the ability of bad actors to hack these days. We just had to resolve $1000 of fraudulent charges in one of our accounts.
DH and I are considering pulling our savings and paying off a second home (our son is renting from us) for that reason. We also have a hunting shack and acreage in another state and we have been talking about putting some money into that... digging a well, solar panels, etc. we bought that land when Obama became president, for many of the same reasons.
“I am nervous about having too much money tied up in banks right now”
Same here. We’ll be buying another house shortly, and I was thinking having 2 houses instead of the money might be a better plan. Unfortunately neither are good rentals, too big and too far from town. One needs a lot of work and the other has been remodeled very upscale for this area.
It depends on whether inflation hits or not. Debtors fare better in inflation. Upgrading your property sounds like a good idea.