Where to put proceeds from home sale

[Butcher]

Hey everyone, my family and I just sold our home and we bought land to build on this coming year. But with winter upon us we are having to wait until spring. Should I park the sale proceeds in a high yield savings account? Regular savings ? I dint want to do a cd because who knows when for sure we can start and dont want it holding anything up. Open to suggestions
Thanks

 

[kwyeewyk]

 

[npaden]

BTC!

 

[MTGomer]

Talk to your banker. They may be able to do some kind of short term CD

They like large sums of money. So I’ve heard. Maybe will find out for myself someday.

 

[Southern Elk]

Talk to your banker. They may be able to do some kind of short term CD

They like large sums of money. So I’ve heard. Maybe will find out for myself someday.

A 3 month CD gets you the highest rate right now.

 

[JohnCushman]

I can give you my bank information....

 

[Laszlo Cravensworth]

I can give you my bank information....

When I saw that you were the last comment on this thread I was really expecting something else...

 

[BigHornRam]

Hey everyone, my family and I just sold our home and we bought land to build on this coming year. But with winter upon us we are having to wait until spring. Should I park the sale proceeds in a high yield savings account? Regular savings ? I dint want to do a cd because who knows when for sure we can start and dont want it holding anything up. Open to suggestions
Thanks

Stage your cd's with a 3 month, 4 month, and 6 month. Don't need every dollar available, when you break ground.

 

[jimh406]

I think high yield savings account makes sense although high yield is just over 5%.

You have time to get in on the Santa Claus rally, but that requires some knowledge to safely invest in ETFs.

Another consideration is to make sure any CCs are paid off if you carry any balance. I wouldn't pay off cars since they usually have relatively low interest rates.

 

[rogerthat]

Money market account destroys a high yield savings account right now

 

[homers]

Online HYSA for short term safety. If the amount is above the FDIC, split across multiple banks

 

[BlakeA]

I would pay off all consumer debt and any and all loans. Put the remaining in a money market account since it's short term.

 

[Butcher]

Thank you guys for the input. I was considering paying my only loan off which isn’t much, its a vehicle. I think I have 10k left. Not sure if I should or not. We will have to doa loan for the build but should have a nice chunk for a down payment. And that will be the only loan I have. God willing

 

[brymoore]

Thank you guys for the input. I was considering paying my only loan off which isn’t much, its a vehicle. I think I have 10k left. Not sure if I should or not. We will have to doa loan for the build but should have a nice chunk for a down payment. And that will be the only loan I have. God willing

Paying off another loan depends on if you need the funds for the down payment amount.

I’d keep the funds liquid in either a money market or high yield checking account. Rates are in a downward trend that should continue in 2026.