Large amount of money for short period of time

[BeaucoupFish]

Say for example you make a few hundred thousand $'s after the sale of your home, and you are not immediately reinvesting this into your next property (i.e. you're renting month to month while looking for the right place).

What is a safe, solid, easily accessable strategy for a lump sum like this? Emphasis on safe!

Are there accounts geared towards larger than 'average' balances that have higher yields, even if the account is only in use for a short term (couple of months or so). I use ING for savings, this was my first thought, but this is probably a common situation for property owners.

Thx!

[gull]

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What is a safe, solid, easily accessable strategy for a lump sum like this? Emphasis on safe!

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Sounds like a savings account to me.

[Chrisman886]

3-month bonds yielding 4.8% right now. Take advantage of the inverted yield curve.

[BeaucoupFish]

Immediate access is key. A safety mechanism to prevent me making a withdrawal for a Ferrari would be a bonus.

I assumed savings account. ING apparently is not the highest rate, but still good. Is that the consensus here?

Thx again, I don't frequent this forum as much as I should.

[gull]

ING is good, but it's at the back of the pack. E-loan is the highest right now at 5.38% I think. ING is only at 4.5%. For hundreds of thousands of dollars, the difference is pretty big.

[Uglyowl]

Take advantage of financial institutions who are offering short term Certificates at high rates to make their plan #'s.

You can probably find a few in your area around 5.30%-5.50% for a 3-6 month term

[BeaucoupFish]

[ QUOTE ]
ING is good, but it's at the back of the pack. E-loan is the highest right now at 5.38% I think. ING is only at 4.5%. For hundreds of thousands of dollars, the difference is pretty big.

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Yes, thats pretty sigificant - thx.