Werewolfdad t1_jad3stq wrote on February 28, 2023 at 4:01 PM

#2,109,440

Start here: https://www.reddit.com/r/personalfinance/wiki/commontopics

Banks and CUs: https://www.doctorofcredit.com/high-interest-savings-to-get/amp/ https://www.reddit.com/r/personalfinance/wiki/banks_and_credit_unions

Mortgage or invest: https://reddit.com/r/personalfinance/comments/zssug0/_/j1ddljd/?context=1

[deleted] t1_jad4a1j wrote on February 28, 2023 at 4:05 PM

#2,109,608

[removed]

CAicefishing t1_jad4qcr wrote on February 28, 2023 at 4:08 PM

#2,109,756

How much money are we talking?

k032 t1_jad52v7 wrote on February 28, 2023 at 4:10 PM

#2,109,867

Kind of depends on what it is for.

If it's an emergency fund, then HYSA, you can find savings accounts with much better interest (especially right now) than 0.01%. If it's money you're saving up for something, a CD could make sense and can earn a little more than HYSA over a period of time guaranteed.

I assume it's not long-term like retirement savings? Given you said you have other investment accounts.

Trentsy_1975 t1_jad5s91 wrote on February 28, 2023 at 4:14 PM

#2,110,107

Capital One has an 11 month CD paying 5%

teejay44 t1_jad6r3y wrote on February 28, 2023 at 4:21 PM

#2,110,412

My Marcus by Goldman Sachs HYSA is currently getting 3.75% APY. It isn't 100% liquid, but it only takes a day or two to transfer it back to my checking account should I need it.

paradigmGT OP t1_jad6x2d wrote on February 28, 2023 at 4:22 PM

#2,110,471

Replying to CAicefishing (#2,109,756)

I would say around $100-120k.

paradigmGT OP t1_jad71t2 wrote on February 28, 2023 at 4:23 PM

#2,110,515

Replying to k032 (#2,109,867)

It is not long term. I would like to keep it relatively liquid for upcoming house renovations, or possibly getting into another real estate investment.

CAicefishing t1_jad7rfy wrote on February 28, 2023 at 4:27 PM

#2,110,725

Replying to paradigmGT (#2,110,471)

With that kind of bank roll I’d consider treasuries. You can get 5.2% on treasuries maturing 1/31/24 and there’s no state income tax (if that applies to you).

Edit: if you’re willing to do some work. Citi is offering some pretty aggressive bonuses for funding new accounts. If you do the math on the $ bonus and time it takes to earn it, the return is over 6% and guaranteed.