written by reader Where to put cash

By barnkb, June 7, 2019

I mostly manage my IRA accounts so have a long enough time horizon that I mostly stay fully invested (not much cash sloshing around). However, I do have some cash sitting around in a non-tax-deferred account that’s just sitting there earning around 0.2% (if that). I plan to use that cash in about 1 and 1/2 years so don’t want to get too cute with it but also would like to earn as much as I can with it in the meantime. Any suggestions?

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Travis Johnson, Stock Gumshoerookie2294bunion132 Recent comment authors

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How about CDs? Your non-IRA brokerage house probably has a roster of one-year CDs to choose from and there are probably a handful that give 1% interest.

Travis Johnson, Stock Gumshoe

If you commit for one year you should get well over 2% for a CD now, shoot for 2.3-2.5%.


If you have at least $2,500 to invest in a CD, Discover Bank is offering 2.65% for a 12 month term.

Travis Johnson, Stock Gumshoe

Or if you don’t even want to commit to that, many online “Money market” savings accounts (still FDIC insured) are offering better than 2% now, some with low or no minimum deposit. Usual internet-only suspects like Marcus and CapitalOne, but also “real” banks like PNC and Citi.