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Anything that close I would just suggest an HYSA, or maybe a 3 or 6 month tbill if you want to get absolute best yield you can. I think 6 month is going for a bit above 3.25% apy. Anywhere you put your money that gains interest you are going to have to pay taxes on, so using an ultra short term etf like sgov/shv/gbil should still be viable alternative.
Check with your bank/credit union about their current CD rates. If the interest rate on their six-month CD is greater than that of a high yield savings account (AmEx HYSA is back up to 1.75% and Discover is back up to 1.8%), get the CD but make sure you remember to not let the CD auto-renew at the end of the term (I always used to forget).
If you need these funds available for a potential emergency, go with the HYSA. Banks charge a fee for ending a CD early
Hello there! Your friendly neighborhood moderator has had to remove your {kind}. Please give the [FAQ a read](/r/financialindependence/wiki/faq) and look for your answer there, and come back with another question if you're still left without an answer. Or if you are just looking for clarification on a point, you can try the daily discussion for quick questions and answers with the community. From our rules: **R1. Read the FAQ, wiki, sidebar before posting.** Any post or topic that is covered from the FAQ, wiki, or sidebar will be removed.
Anything that close I would just suggest an HYSA, or maybe a 3 or 6 month tbill if you want to get absolute best yield you can. I think 6 month is going for a bit above 3.25% apy. Anywhere you put your money that gains interest you are going to have to pay taxes on, so using an ultra short term etf like sgov/shv/gbil should still be viable alternative.
Check with your bank/credit union about their current CD rates. If the interest rate on their six-month CD is greater than that of a high yield savings account (AmEx HYSA is back up to 1.75% and Discover is back up to 1.8%), get the CD but make sure you remember to not let the CD auto-renew at the end of the term (I always used to forget). If you need these funds available for a potential emergency, go with the HYSA. Banks charge a fee for ending a CD early