Posted: 8/4/2026 11:12:48 PM EDT
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First of all, I should be closing on a house. I'm selling this Friday. After everything is all said and done, I should walk away with about $130,000 I already have my other house pay it off. It has a 3000 ft. category three rated red iron barn. my plan is to use the proceeds from selling this house and build the barn out into a classy white trash dream. Shockingly it never occurred to me in this whole process of selling the house where I'm actually going to stick the money until I need it for the build out so my question is where does one stuff $130,000 for the next year-ish while I can easily siphon off of it for things like spray foam insulation, doors, windows, etc. I am going to build a large portion of it myself, so it's not going to happen quickly thanks |
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Originally Posted By wildearp: Ally Originally Posted By Procat: If it were me I'd just throw it in a Fidelity brokerage account. You could ladder CDs or T Bills or just collect the SPAXX return on the cash if you want. Originally Posted By ske714: Capital gains tax is a bitch. |
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Originally Posted By Chas8008: why do you say Fidelity brokerage account as opposed to Charles Schwab or E*TRADE or Robin Hood? I said Fidelity just because that’s what I use and I’m familiar with their accounts. Schwab & ETrade would probably be similar. Robinhood you’ll have to pay for the gold subscription to get the best return on your cash. Fees suck but it does unlock access to their 3% cash back credit card which can easily cover the $5 a month. Edward Jones sucks but that’s a whole other discussion. |
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Originally Posted By Procat: I said Fidelity just because that's what I use and I'm familiar with their accounts. Schwab & ETrade would probably be similar. Robinhood you'll have to pay for the gold subscription to get the best return on your cash. Fees suck but it does unlock access to their 3% cash back credit card which can easily cover the $5 a month. Edward Jones sucks but that's a whole other discussion. It looks like the Fidelity and Charles Schwab are identical as far as fees until you actually need to use a broker, but I wouldn't be doing that I'm probably going to lean towards Charles Schwab because it's already integrated into my USAA account |
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Originally Posted By Procat: Robinhood you’ll have to pay for the gold subscription to get the best return on your cash. Fees suck but it does unlock access to their 3% cash back credit card which can easily cover the $5 a month. Yes, once you finally get to the top of the wait-list for getting the gold card. It's been months for me and I'm still waiting. Otoh, they pay 3.5% on cash in a regular investment account if you're a Gold subscriber. So that's not a bad place to park it, regardless. |
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Originally Posted By Procat: I said Fidelity just because that’s what I use and I’m familiar with their accounts. Schwab & ETrade would probably be similar. Robinhood you’ll have to pay for the gold subscription to get the best return on your cash. Fees suck but it does unlock access to their 3% cash back credit card which can easily cover the $5 a month. Edward Jones sucks but that’s a whole other discussion. Originally Posted By Procat: Originally Posted By Chas8008: why do you say Fidelity brokerage account as opposed to Charles Schwab or E*TRADE or Robin Hood? I said Fidelity just because that’s what I use and I’m familiar with their accounts. Schwab & ETrade would probably be similar. Robinhood you’ll have to pay for the gold subscription to get the best return on your cash. Fees suck but it does unlock access to their 3% cash back credit card which can easily cover the $5 a month. Edward Jones sucks but that’s a whole other discussion. Fidelity also defaults to SPAXX, which is a solid place to keep short-term money. As another person mentioned, capital gains will be a bitch. You'll have the proceeds on the house plus whatever you make on that money, wherever it is. You may want to keep it somewhere like SGOV or PPVFX, and sell only as needed, pushing those taxes to a later year(s). |
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Modern life is one steep, perpetual tax on the mathematically impaired
Modern life is one steep, perpetual tax on the mathematically impaired
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Originally Posted By Bohr_Adam: As another person mentioned, capital gains will be a bitch. Before I’d get too excited about it I’d need some details the OP didn’t mention. If he meets the residency requirements in the old house the $130k doesn’t matter. If he doesn’t you’d still deduct his basis plus any improvements and what’s left should be just be subject to long term rates. I hate taxes as much as the next guy but if I have a legit gain and have to pay 15% I’m not going to lose sleep over it. |
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Originally Posted By Procat: Before I'd get too excited about it I'd need some details the OP didn't mention. If he meets the residency requirements in the old house the $130k doesn't matter. If he doesn't you'd still deduct his basis plus any improvements and what's left should be just be subject to long term rates. I hate taxes as much as the next guy but if I have a legit gain and have to pay 15% I'm not going to lose sleep over it. Originally Posted By Procat: Originally Posted By Bohr_Adam: As another person mentioned, capital gains will be a bitch. Before I'd get too excited about it I'd need some details the OP didn't mention. If he meets the residency requirements in the old house the $130k doesn't matter. If he doesn't you'd still deduct his basis plus any improvements and what's left should be just be subject to long term rates. I hate taxes as much as the next guy but if I have a legit gain and have to pay 15% I'm not going to lose sleep over it. I bought the other house 15mons ago, |
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I use Vanguard so I store money in: Attached File |
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Originally Posted By Chas8008: I agree on Edward Jones that's why I'm trying to distance myself It looks like the Fidelity and Charles Schwab are identical as far as fees until you actually need to use a broker, but I wouldn't be doing that I'm probably going to lean towards Charles Schwab because it's already integrated into my USAA account USAA is a bank that also offers less than stellar investment services. In my experience, if Fidelity is an answer then Fidelity is the best answer. |
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Originally Posted By OregonShooter: I use Vanguard so I store money in: https://www.ar15.com/media/mediaFiles/76/vusxx_jpg-3806326.JPG This is the best answer and has the highest yield (Vanguard VMFXX) I personally use Fidelity because all my accounts are there, and there you can use FZDXX which currently pays 3.48%. Ally HYSA is not competitive - its dumb to keep cash there at this point IMHO, as they have not been competitive for years. I used to bank with them when they were competitive. |
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Originally Posted By Morgan321: What fees are you having to pay? USAA is a bank that also offers less than stellar investment services. In my experience, if Fidelity is an answer then Fidelity is the best answer. Originally Posted By FALARAK: As long as you lived in the home for 2 of the previous 5 years, you can shelter capital gains. $250k per person |
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do you have a paid x account? x money is paying 4% or 6% if you have the highest membership option or 6% again if you have the lower paid membership but opt to direct deposit $1000 every 34 days into it |
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This is the new participation trophy arfcom, not the old wild west arfcom
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it may still be by invitation only do you have a paid x account? if not it might be worth the $85/yr investment to pick one up and then wait for an invitation eta: Yes — X Money is still invitation-only / phased, even a month after its July 27, 2026 U.S. launch. wise.com It is rolling out to U.S. X Premium and Premium+ subscribers (18+, in most states where X Payments has licenses; New York and Massachusetts are among those not yet covered). Access is not automatic. Eligible users get an in-app invite over time; many Premium users are still waiting as of late August 2026. theverge.com You cannot sign up freely or use a public waitlist. Check the Money tab in the X app (after updating) if you qualify. People are still posting that they just received an invite or are still waiting. @TSCMAGA47 It is U.S.-only for now and not available to free (non-Premium) accounts. |
SPECTRE
This is the new participation trophy arfcom, not the old wild west arfcom
Jarhead_22
When TexRdnec is the voice of moderation, you know you have swerved over the double yellow line and are headed into oncoming traffic
This is the new participation trophy arfcom, not the old wild west arfcom
Jarhead_22
When TexRdnec is the voice of moderation, you know you have swerved over the double yellow line and are headed into oncoming traffic
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Originally Posted By TexRdnec: do you have a paid x account? x money is paying 4% or 6% if you have the highest membership option or 6% again if you have the lower paid membership but opt to direct deposit $1000 every 34 days into it I do not even know what that is |
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Fidelity and Schwab have cash management accounts that work like checking accounts. You can keep the bulk in a brokerage account and move money to the cash account as needed. Depending on risk tolerance and time horizon, invest the bulk in the market or play it safer with a money market fund. If you're really risk averse, the Fidelity cash management account is FDIC insured and pays modest interest but long term may not keep up with inflation. Schwab should have something similar but I use Fidelity because I have/had work 401K and ESPP there. |
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Originally Posted By Chas8008: X ? I do not even know what that is It’s a teaser introductory rate to get people to hold money with Elon’s new ventures. X is the former Twitter. Sounds great but it won’t last long. Unless you have the appropriate paid X account, I wouldn’t bother. Remember this about investing….if the crazy good offer is too good to be true AND someone tells you it’s guaranteed “no way to lose”….run as fast as you can away from it. If it’s a crazy good offer, it’s a teaser and will go away eventually. Not saying you shouldn’t take advantage of teaser rates just understand the limitations. |
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| I was keeping my emergency fund in a HYSA at Capital One. Once it became larger than what I would ever need as an E Fund, and C1 kept dropping their rates, I moved it to a Fidelity individual brokerage account. The E Fund is in SPAXX and I dropped the excess into VT. My 401k and Roth IRA are both at Fidelity so it was an easy decision for me. I have a debit card and can get checks tied to the SAPXX portion of the account and it was around 3.33% the last time I looked. I am very much a set it and check it a few times a year person though. |
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