Parking $ for 5 months

[LearningMustachian72]

I have a house project that’s going to cost roughly $20k.

I typically use my bonus on such projects, which I just received.

I cannot start the project til June.  Where would you park this $ til then to maybe get a little return but ultimately rather safe.

Thanks in advance.

[Dicey]

Bank bonuses.

[cool7hand]

I suspect that only you can answer this based on your risk tolerance. We've reached that critical mass where our stash is our rainy day fund because the stash has grown to the FatFire side. As a result, we'd invest the money in the interim because more often than not that decision will result in made money over the rest of our lives. Of course, this approach is not right for everyone.

[LearningMustachian72]

Yeah, that’s kind of how I am leaning too.  Thank you for your input.

[cool7hand]

My pleasure!

[Just Joe]

Bank bonuses.

So move the money back and forth to different banks and collect the bonuses?

We have a similar problem as the OP.

As for investing: what kind of investment? IRA? CD? Vanguard? What if we needed to get access to the money within a few day's notice (to purchase a car or expensive home repair)?

Sorry for the junior level questions.

[cool7hand]

Bank bonuses.

As for investing: what kind of investment? IRA? CD? Vanguard? What if we needed to get access to the money within a few day's notice (to purchase a car or expensive home repair)?

We invest rainy day money in our brokerage account. We've never had a situation where the two-business days for a sell to clear was a problem. In most cases, we put any large unexpected purchases on a credit card for the cash back. We can always liquidate investments in time to pay a credit card bill.

[Jack0Life]

Thank me later. This is the best choice.
https://www.doctorofcredit.com/tastyworks-brokerage-bonus-transfer-10000-earn-500-bonus/

Open one for you can your wife. Park $10k in each account and you will earn $1000 after 3 months.
You will actually get the $500 fairly quickly but you need to keep the money there for at least 3 months.
I did this for me and my wife and the $500 showed up a day after I transferred in $10k.
This place is legit and insured. Just park your money in there. Don't do any trading though.

[Dicey]

Bank bonuses.

So move the money back and forth to different banks and collect the bonuses?

We have a similar problem as the OP.

As for investing: what kind of investment? IRA? CD? Vanguard? What if we needed to get access to the money within a few day's notice (to purchase a car or expensive home repair)?

Sorry for the junior level questions.

Banks will pay you bonuses for opening accounts with them. Deposit money, get bonus, close account, repeat. It's FDIC insured, can't lose value, and (alas) taxable, but the Return on Investment (ROI) far exceeds any passbook savings currently available. We have an entire thread devoted to it. Doctor of Credit, as Jack0Life mentioned, is the go-to source for information on current offers.

https://forum.mrmoneymustache.com/share-your-badassity/bank-account-churning-how-to-make-$1600-in-a-year-by-being-organized/msg2972283/?topicseen#new

I am not suggesting selling trade lines. That's a whole different conversation, with its own thread.

[Just Joe]

Thank you.