Where to park $12,000 for 5-8 months?
June 27, 2014 8:36 PM Subscribe
I have a sum of about $12,000 of which I will probably need to access about one-half in November and the other half around February or March. It's currently sitting in a savings account where it's making negligible interest. Is there something better I could do with it in this very short time frame?
posted by zeri to Work & Money (15 answers total) 5 users marked this as a favorite
Looking at current interest rates for CDs and money market funds it looks like the return on those wouldn't be significantly higher than if I just leave the money in my savings account. Something like an EFT might yield a higher return, but it would also be riskier, and I don't want to gamble with this money. Is there any option I'm overlooking which would be both fairly safe and more profitable than what the money is currently doing (i.e. nothing)?