What to do with proceeds?

[daddiorick]

We close next week on our house sale. Proceeds will amount to about $80k. We are moving to a neighboring city where we plan to rent for a year before we buy. I am exploring options for parking the $80k check until we are ready to buy. I will need that money for the new house so it has to be accessible. I am a pretty conservative guy who has very little stock market exposure. With an election looming I suppose i am more leery than ever of the market. Given some of those parameters where would you park the proceeds? Thanks.

[MonkeyMama]

In my opinion, the best place would be a savings account, interest bearing checking account or CD. Look around and see where you can find the best rate. You'll probably have to settle for something in the 1% range. If you are lucky, you may find something at 2% or slightly above.

Agreed.

[daddiorick]

Thanks folks... That is about what I was thinking... just wanted to make sure I was not missing anything obvious...