Hacimnosp t1_je876f0 wrote on March 30, 2023 at 2:49 AM

I would recommend just putting it in a high yield savings account. You can add more at any time or with draw at anytime with no penalties. The rates are about the same as most 6 month CDs. Also once the CD date ends your often times asked to with draw or sign up for a new CD. If you with draw but are planning not using it all at once you start losing out on interest again. I’ve found this to be the best way to make hassle free, FDIC insured passive income that’s quickly accessible. I park my emergency fund here and extra money until I can a solid investing opportunity.

LuvIsMyReligion t1_je88lkv wrote on March 30, 2023 at 3:01 AM

"The rates are about the same as most 6 month CDs" where if you don't mind sharing?

[deleted] t1_je89cwo wrote on March 30, 2023 at 3:08 AM

[removed]

ElementPlanet t1_jeabq71 wrote on March 30, 2023 at 3:52 PM

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thefly21 t1_je8ckob wrote on March 30, 2023 at 3:36 AM

Discover bank 6 month cd - 3.4%. Online savings - 3.6%

Of course, a 12 month cd is 4.5%, but the savings account makes more sense at 3.6 than a 6 month cd at 3.4. Also, rates for online savings can change ( you aren’t locked into your rate). Lately rates have been going up - if you open an online savings at 3.6, there is a good chance the rate will increase while your money is in it over the next few months (the way rates are currently)