Join Date: Sep 2005
Location: Los Angeles, CA
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Our savings (which is mostly dedicated to a remodel we're getting bids on right now) is in a money market that, last I checked, was getting a bit over 4% (but it's north of $85k, which matters). It's set up through the brokerage attached to the accountant who handled my late cousin's finances. It all came from her estate, so we just kept it with the folks who had it, since they seemed to be doing a good job with it!
We've talked about putting a portion into a CD until we're starting construction, but never did get around to it, and we're sending the drawings out for bids right now, so we may need it in less than six months (and that's about the minimum time for a CD).
We had our down payment for our house in a "liquid CD" with CalNational, which was pretty cool. It's a CD, but slightly lower interest than most CDs, and it allows you to deposit or withdraw twice in the seven-month term without penalty. If you find you're using the second time, you can just withdraw it all and start a new one, so you'll never face a penalty.