We have $270,000 in first mortgage money that we plan to spend on remodeling in the next 8 months. Where should we hold that money?
For this short term you best bet is a money market, albeit paying little interest. You do not have a long enough time horizon for other investments in pursuit of higher returns because the principle value would be subject to negative returns (principle loss) in such a short time period. Enjoy the remodel! | 08.15.15 @ 23:02