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Decided to payoff my mortgage.
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Where my gays at?
Decided to payoff my mortgage.
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A few hundred k.....I often wonder how people with kids and regular jobs manage to save 300k and not have to use it...care to share?
Vanguard MMF
I’d save the first $100k to $150k in HYSA, then decide between CD’s / T bills / money market based on the rates you can get and the state you’re in (Ie whether the tax-free attributes of T bills is worth it).
Subject Expert
Options to consider:
HYSA. Money market fund or ultrashort bond fund (VMFXX, SGOV, etc). Short term muni fund for a relevant state (if you are in a high tax bracket in a relevant state). Short TIPS fund. Maybe (maybe) a low volatility allocation fund like VTINX.
For money needed so soon, you would not want to take the risk of holding a lot of equities or long term bonds, presumably.