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Old 07-28-2018, 03:31 PM
 
Location: Saint John, IN
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Quote:
Originally Posted by Grlzrl View Post
CD for sure. Money markets pay crap rates. You can go on bank rate.com to find out who is paying the best rates.
I agree! I wouldn’t put it in the stock market if you’re going to use it soon and want to preserve the value! Short term CD!
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Old 07-28-2018, 06:39 PM
 
6,308 posts, read 4,772,649 times
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A low-cost Vanguard money market fund with daily "liquidity" (redemption). I use https://investor.vanguard.com/mutual.../profile/VMMXX. The current yield is 2.06%. The expense ratio is 0.16%. No penalty for early withdrawal, ever.

The problem with CDs is that if you need the money back in 5-1/2 months instead of 6, due to some unforeseen circumstance, the penalty for early withdrawal could be substantial.

I am a professional financial advisor.
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Old 07-28-2018, 07:06 PM
 
4,115 posts, read 3,455,418 times
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Cattle. Actually that wouldn't buy many.
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Old 07-28-2018, 07:08 PM
 
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I can give you a bank account number where you can store it for a while. No promises on being able to get it back but I do promise to take good care of it and make sure nothing bad happens to it
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Old 07-28-2018, 07:46 PM
 
Location: Myrtle Creek, Oregon
11,068 posts, read 11,469,953 times
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Quote:
Originally Posted by txgolfer130 View Post
Either a brokered CD (could face some loss if you redeemed early, but not penalty's for doing so), or a purchased money market (no sweep accounts).
The only quibble I have is with "a". I keep my liquid cash in $10k CDs, so I don't have to eat the penalty if I only need part of the money. $200k would be 20 CDs.
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Old 07-29-2018, 07:36 AM
 
Location: Long Island
748 posts, read 672,368 times
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Most credit unions are running hear 2% rates for various liquid accounts both savings and checking. Sherry Federal Credit Union in Long Island, NY has a 1.75% checking account right now.
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Old 07-29-2018, 08:01 AM
 
2,092 posts, read 796,775 times
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Quote:
Originally Posted by jnojr View Post
Where would you park $200,000 for six months or so that you had to keep liquid? Standard deposit account? Money market? Something else?
OMG. Nice chunk of change!! I wouldn't take any risks deciding this on your own. Deal with your bank. Get some background before you meet with their financial officer such as check interest rates with a few different
institutions on line. For that amount of money you should get a decent return. Maybe 2.75%. I wouldn't put this in a high yield savings, that is just too fluid and would undervalue the size of the deposit. You might want to divvy up the total into 20K or 50K increments. Is it likely you will need the entire 200K all at once? Perhaps some of it at 6 months, a portion at 1 year, 18 months and so on. Mutuals on the 1 year - 18 months. With the market success in USA you just might get a 5%+ return. Don't wait too long, you might end up buying too high and take a risk with it.
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