{ "media_type": "text", "post_content": "Thoughts on the best way to hold cash I'm planning to use it as housing down payment in ~6 months?\n\nThinking about placing it in my existing HYSA (which isn't all that HY) rather than investing given volatility of markets and capital gains taxes but maybe there's other ideas. Sources will be existing investments, cast bonus and sale of current property.", "post_id": "61a3ee5ee39fe20034789144", "reply_count": 19, "vote_count": 3, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }

Thoughts on the best way to hold cash I'm planning to use it as housing down payment in ~6 months? Thinking about placing it in my existing HYSA (which isn't all that HY) rather than investing given volatility of markets and capital gains taxes but maybe there's other ideas. Sources will be existing investments, cast bonus and sale of current property.

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General rule of thumb (for financial planners) is if you have a known large cash need in the next 2 years, keep it risk free. In this environment I’d just hold it in cash. You’re not going to get much more from CDs or short term bonds (under 6 months) - which are what high yield accounts are typically invested in anyway. On a $200k down payment we might be talking a couple hundred bucks or less in extra yield for less liquidity or less security than holding cash.

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I bonds if you can stretch your time horizon to a year. Otherwise, I’d hold onto the cash as S&1 mentioned.

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HMBradley - if you make a direct deposit before YE, and don’t withdraw, you’ll start 1/1 earning 3% up to $100k. Not amazing, but better than .5% of the best HYSAs

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Great advice. Down payment will be 100k+, ideas for the remainder? #california

Following!

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Appreciate its not just me and a good enough question that others are following!

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Look for banking promos. Some offer $700-1000 in bonuses after a certain deposit/holding period is met. Rinse and repeat and you can up $3-5k in a year depending on your savings amount

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See response on HMBradley

When I had a down payment coming in about 6 months I put that money in a bond mutual fund.

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If you can wait a year to touch your money, look into Series I bonds.

More than a year

Give it to me. I'll keep it safe for you 😉

There was a post recently about a dude buying treasuries for 7% or something like that

Aren't I bonds limited to $10,000 per year per ss number?

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