Hi everyone,
I just finished refinancing my home, and now I am responsible for my property taxes and insurance payments. My current plan for the annual property tax payment (~$6500) is to put it in a 0.99% APY savings account.
I'm planning on a savings account because CDs are about the same rate anyway and I don't think investing is a smart idea for a sum of money you need in a year or less. I'm writing here to make sure that is the case. Is there something else I could do with this $6500 that will have a higher yield and little to no risk? Googling I couldn't really find any strategies for this.
Thanks,
Steven