How should I structure this? $210k in my checking account; of that, $150k is for a down payment in 7-19 months. The other $60k is my general spending / emergency fund. I would like to increase the interest I earn on the above in a risk averse manner. I’m thinking of moving all but $10k into a HYSA. Does that make sense?

I already max out my 401k, HSA and contribute $3k/mo into a brokerage, and I don’t want to dump my down payment into a brokerage.

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I usually keep about 5k in checking and any other cash for my emergency fund/near term expenses is in HYSA. Sounds similar to your plan.

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Get a financial planner. The $150k should be in short-term / very low risk. The rest can be more diversified. But … again get a planner. I’ve been beating the market returns with mine.

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Yes, if I were you I’d put as much as possible in HYSA where it’s safe (I would not trust putting anything into the market if it’s needed within the next 3 years max) and keep a comfortable amount for paying off bills in your checking account.

I am not saving for a down payment, so just my emergency fund is in HYSA right now and I keep ~$4k buffer in my checking acct for any incidentals that go over my usual spending

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I think you’ll get more from T-bills than a HYSA, right? Think T-bills are running 4%+ depending on maturity and most HYSA are 3%

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Agreed, T-bills currently provides better returns than HYSA

Have you contributed to an IRA or back door IRA? For every savings account, open a checking with the same bank so you can transfer/withdraw money out of easier. I only keep around $100 in my checking and the rest of my emergency fund savings in a HYSA.

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No, there’s no income limit to a traditional IRA. There is a max for 2022 contributions of $6k. There is an income limit to be able to contribute to the Roth IRA (I think that’s what you’re referring to) but that’s why there’s a back door Roth.

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