Where to park about $20,000 for a year or so?

So you want a safe 10% return in a year?


Got some oceanfront property in AZ that has been averaging double that

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I don’t want to lose money and obviously I would like to grow it by a couple thousand in a year.

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these two statements are not compatible
If the priority is the former, then 500 bucks is going to be the best you can do.

(no message)

Cot damn.

If I knew I needed it in 1 year I’d put it in a high interest savings

I feel like I have to shout this from rooftops on here. Check your local banks. Several offering 4% interest on checking if you use the account (3 or 4 in my town alone). I make 10-15 purchases of $5-15/mo and get 4% return. They are subsidizing the interest with the swipe fees.

best FDIC options I know of are:

2.3% savings at Live Oak Bank

2.65% 1yr CD Quontic bank

With rates dropping I’m not sure any banks are still doing this.

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There is usually a balance cap on this, and a specified period of time that it’s available, unless your bank has figured out how to profit by paying out at a higher rate than they lend

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The 2 banks that I have used have caps of $15k and $25k respectively. Require 10-15 card swipes. No minimum spend amount. They require a direct deposit, which I satisfy with an auto ach from another bank account. I don't get the hate. Does not expire - been doing it a couple years now.

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Every time I have looked into these they were more hassle than they were worth. Between using debit cards, maximum balances and minimum monthly spending, etc. the interest rate was worthless.

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There is no max balance, but a max to get the higher rate. Using a debit card is not a problem for me - already using CC for all purchases anyway. There is no minimum spend.

Here is an example if anyone interested Progressive Bank

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I feel like I have to shout this from rooftops on here. Check your local banks. Several offering 4% interest on checking if you use the account (3 or 4 in my town alone). I make 10-15 purchases of $5-15/mo and get 4% return. They are subsidizing the interest with the swipe fees.

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Most are only up to some minimal amount though. So these things are generally not worth the hassle.

You also forgo earning CC reward points because they make you use a debit card. Depending on the reward redemption you will come out a net loser here. On top of that you lose your buyer protection when you swipe a debit card.

Just my 2 cents.

Get a “high yield” savings from Marcus or Wealthfront. Keep it simple.