Reply #7: If you have any debt, pay it down

[gmoney]

If you have a mortgage, you could pay down principle an effectively earn the rate of your loan for the remaining term of your loan on that money. Even if you have a great mortgage rate of 4% or so, that's still a better return than the "mason jar" interest rate you'd get on a CD.

Same goes with credit card debt, car loan or any other debt you might have.

If you're debt free, congratulations. You're ahead of about 95% of us.

There are some online banks paying like 1.5% http://www.moolanomy.com/1333/how-to-find-best-high-yield-savings-interest-rate/ -- at least the money wouldn't be tied up like with a CD. Or just put the money in your safe deposit box so it's readily available. If it's $10,000 you'd only be out like $40?