Put it in a savings account · Pay off debts · Increase your stock portfolio · Invest in real estate · Supplement your retirement with annuities · Purchase permanent housing. In addition to finding the right savings option, you can also consider using the proceeds from the sale of your home to pay off outstanding debts, such as credit card balances. With a money market, you can still use cash in case you find a home and need to make a deposit quickly. If you're actively looking for housing and need access to cash quickly, a money market fund may be your best option.
If you want to invest money after selling a home, it's wise to talk to a wealth management professional and describe your short- and long-term goals. If you're not ready to buy again, you'll need a strategy to help you manage your money after selling a home.
