Spouse and I are planning for 3rd kid and want to take extended time off after. Where to store a few hundred k for the next year or 2 until we need to start dipping into it?

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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?

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Vanguard MMF

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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).

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.

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