Where to put 10K if not needed now

I'm 72, living in a lower income senior apartment complex (rent $1K monthly) and have 10K sitting in a credit union money market account. This 10K is above what I keep for "rainy day" and "emergency living" funds. Wondering, and asking your advice, on a good place to put these funds with maximum availability to grow. My only caveat is a 5-7 year window in case I do need the funds then. TIA
 

Victor

Senior Member
Location
midwest USA
Yes but even with 5% you will only keep up with cost of living

increases probably. A good recession proof common stock is ok but risky. Maybe worth waiting for it to rise into profit like Phillip morris
 

Right Now

Senior Member
Location
upstate New York
This is a bit outdated but still good advice.

I have an American Express high yield savings. The interest is currently 3.40%, so monthly it is padding my account nicely. They sometimes raise it monthly, depending on the current status. At $25000 , it pays $850 a year. Nice!
 


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