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05-12-2023, 12:23 AM
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#1
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Confused about dryer sheets
Join Date: Jun 2012
Posts: 4
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Parking Cash
Hello,
We are in the process of buying a new home and selling our current home. Our current house will close after the new home purchase and we will not have the funds available to use as part of our down payment on the new home, so we're pulling from savings and brokerage accounts for the purchase.
We'll have about $250k following the sale that I plan to put about $100k into general savings at about 4% interest, but would like to get a little better returns on the remaining $150k. Does anyone have any recommendations on where we should park the money that isn't too risky but will earn better than 4%? I'd like to have it relatively liquid while we contemplate whether we could use it for a business purchase.
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05-12-2023, 12:52 AM
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#2
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jul 2014
Location: Spending the Kids Inheritance and living in Chicago
Posts: 16,329
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I think many money market funds (which are pretty safe) earn 4.5% or better.
Otherwise 6 month or less treasuries are earning 4.7% to 5.7%
__________________
Fortune favors the prepared mind. ... Louis Pasteur
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05-12-2023, 05:41 AM
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#3
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Thinks s/he gets paid by the post
Join Date: Dec 2015
Location: Michigan
Posts: 4,651
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The MM fund at Fidelity is paying 4.76%.
__________________
"The mountains are calling, and I must go." John Muir
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05-12-2023, 07:57 AM
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#5
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Thinks s/he gets paid by the post
Join Date: Oct 2017
Location: Tellico Village
Posts: 2,514
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Good replies, I have my 300K house money in both Vanguard Treasury money market and Bask Bank. Interest on both accounts is at 4.75%, Getting ready to spend it all (Blow that Dough) in mid June on a new home build in Tennessee. House is finally near completion after 7 months.
VW
__________________
Retired May 13th(Friday) 2016 at age 61.
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05-12-2023, 07:50 PM
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#6
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Full time employment: Posting here.
Join Date: Aug 2018
Posts: 597
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VMFXX Vanguard Federal Money Market Fund 7 day SEC yield is 5.01% C as of 05/11/2023.
C-AVERAGE ANNUALIZED INCOME DIVIDEND OVER THE PAST 7 DAYS
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05-12-2023, 08:49 PM
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#7
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Recycles dryer sheets
Join Date: Sep 2021
Posts: 186
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Juno 5% for upto $50k, CIT savings 4.8% and 11month no-penalty CD 4.85% (no limit).
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05-12-2023, 10:17 PM
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#8
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Aug 2016
Location: Northern Virginia
Posts: 7,246
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When you can earn 5% or thereabouts risk-free, that seems to be the ticket.
CFG Bank HY savings 5.02%.
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05-13-2023, 07:47 AM
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#9
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Recycles dryer sheets
Join Date: Dec 2021
Posts: 140
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05-13-2023, 08:44 AM
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#10
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Thinks s/he gets paid by the post
Join Date: Mar 2014
Location: Apex and Bradenton
Posts: 1,484
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 Quote:
Originally Posted by FlaMariner
5.25% here.....Dominion Energy.
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I'm curious, do you know what they were paying when the Fed was at 0%?
__________________
Good Luck,
Latexman
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05-13-2023, 06:47 PM
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#11
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Recycles dryer sheets
Join Date: May 2019
Posts: 366
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Have you considered I-Bonds for part of this money?
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05-14-2023, 10:58 AM
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#12
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Recycles dryer sheets
Join Date: Dec 2021
Posts: 140
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Quote:
Originally Posted by latexman
I'm curious, do you know what they were paying when the Fed was at 0%?
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I do not know what is was paying then....thinking that was during the unpleasantness around 2008?
I do know that in 12/21 it was paying 1.25%.
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05-14-2023, 11:04 AM
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#13
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Thinks s/he gets paid by the post
Join Date: Feb 2007
Location: Upstate
Posts: 2,874
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Quote:
Originally Posted by VanWinkle
Good replies, I have my 300K house money in both Vanguard Treasury money market and Bask Bank. Interest on both accounts is at 4.75%, Getting ready to spend it all (Blow that Dough) in mid June on a new home build in Tennessee. House is finally near completion after 7 months.
VW
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TN is on my short list for possible moves. What (in general) part of the state are you moving to and what sold you on that area? Thanks.
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