I have a large amount of cash ~ $1M that I keep for down payment. Right now it is distributed across 4 accounts since there is $250K limit on FDIC insurance.
Is there a better way?
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1M for down payment?
However, being high yield they have significant risk if there is a downturn
If you want something similar to fdic insured stability, do not get this!! Next closest to fdic insured is a non-insured money market, but that is also basically 0%
After that, a little more risk will get you short-term treasuries (perhaps 0.1-0.2%), then short-term high quality govt bonds (maybe 0.4-0.5%) starting to get a bit of volatility, then ... ...
Unfortunately if you want safety, you aren't going to be getting much
I assume this is all in an online savings account. Also if itβs a joint account you are covered to 500k (the limit is per-owner, per-account, per-ownership-type)