I have been gradually building up my cash savings and am exploring better options beyond CDs.
What began as a 6-month emergency fund has grown to approximately $300,000 over the past 5-7 years. Currently, about 75% of this is invested in short-duration CDs with a 5% APY.
I have no debt aside from a remaining mortgage of $250,000 at a 2.25% interest rate.
I actively contribute to 529 accounts for my kids and invest the maximum amount into traditional IRAs each year $7,000 this year, along with maximizing my 401k contributions.
I am in my early 40s with two children in grade school and do not invest in crypto or individual equities.
With $300k, you may investigate diversified index funds or exchange-traded funds (ETFs) for long-term gain, or you could check into high-yield savings accounts for improved liquidity.