Selling a House - What to do with the proceeds?

[MovingOnIn2023]

We are selling our primary residence, and building a new house.  We will have $650K in cash coming to us, but the new house (going slow) won't be ready until late fall.

What can we do with this cash in the interim to generate some returns in the short term, we are considering paying off the mortgage of the house ($700K) but not set on that now.  Planning on going full FIRE (quitting in June), so that is making me more conservative.

Any thoughts/advice would be appreciated.

[zolotiyeruki]

For money that you (may) need in the near future, I believe the conventional wisdom is to stick it in bonds rather than equities.

If you decide *not* to pay off the mortgage on the new house, you can plow it into an index fund and call it good.

[aetheldrea]

With that much money no longer protected by your primary residence, I would think about taking or increasing umbrella coverage.