We sold our house and made a fair amount of money. I currently have the profit in my savings account waiting for the market to drop more to purchase another home. I am hesitant to invest any of it currently as I may need it within a couple years. What are my “safest” options?

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[deleted] t1_iycuwjy wrote on November 30, 2022 at 1:35 PM

#804,732

[removed]

BoxingRaptor t1_iycvnpk wrote on November 30, 2022 at 1:42 PM

#804,984

With a horizon that short, the common advice will likely be to just stick it in a HYSA.

zwzwzw19 t1_iycw3pn wrote on November 30, 2022 at 1:45 PM

#805,136

HSYA, or treasuries if you know the timeline for needing the money and can then hold to maturity.

Also remember to set aside $ in HYSA if you will owe any capital gains taxes. Possible since you mentioned it’s short term. Taxes are owed if lived/owned under 2 years.

amboy4463 OP t1_iycxypm wrote on November 30, 2022 at 2:01 PM

#805,751

Replying to zwzwzw19 (#805,136)

Short term meaning it will be in savings for short term. No taxes owed. Thanks for the feedback!

[deleted] t1_iyd119y wrote on November 30, 2022 at 2:25 PM

#806,758

Replying to amboy4463 (#805,751)

[removed]

lucky_ducker t1_iyd43i4 wrote on November 30, 2022 at 2:49 PM

#807,811

Money Market Mutual Funds (MMMFs) are yielding slightly more than HYSAs right now, examples SWVXX, SPRXX, VMFXX.