The $50,000 Question

[ReidDeCardes]

I have $50,000 that I want to use as a down payment on an apartment. But my plan is to wait 3 to 6 months. Where do I put the money, other than under my mattress? CDs or Muni Bonds or something else? If it matters, I have a Fidelity account for my 401k.

Thanks.

[john kane]

does this mean if we answer it correctly we win $50,000?

if so, my answer is put it in the highest savings account with a reliable bank.

[ACPlayer]

Shop around for a Money Market Fund or buy a 3/6 month CD


Note that lot of outfits have better rates for large MM deposits.

[scott1]

Unless you are certain you won't be touching the money for a length of time, just put it in an online savings account. Shop for a deal at ING direct, HSBC, etc.

The difference in return between a short term CD and a good savings account might not be worth the loss of flexibility.