The family of companies I work with stores 20% of profits in the cash value of specially designed life insurance policies. Grows 5% long term and can function as a personal banking system for your business. We use it to buy our office buildings, launch new businesses, fund buy sell agreements, etc. Powerful tool that banks and fortune 500 companies use but isn’t talked much about in the mainstream

May I ask you what business are you in?

You can give it to me il keep it safe.

I move from checking to MM to CDs fairly often.

You can get 30 day CDs at like 5.25% or higher right now.

I keep 6 months expenses liquid and move around as needed.

Park it in a mortgage offset account

In Florida. We keep it in a local credit union and also a bigger credit union (NFCU). We do this because they love to see the cash over anything. We can leverage our cash (around 350k rolling) to get loans on anything, anytime/etc. Our rates are often really good. Some of my business cards report to my personal, so utilization is high because I don’t pay before the statement is cut. Because of that, I’m constantly at a 640-ish credit score. I can borrow anything, anytime, at the lowest rates - including houses. It also helps when explaining your income, you don’t need to show pay stubs if you bank with them.

Does my money grow at a higher yield? No. But the ability to get loans (personal and business) or funding anytime I want (not secured against my cash) is incredible. Again, the loans are not secured against my cash. They do have “cross collateralization” but that’s a whole different story.

Put some in savings, some in investments, and keep an emergency fund.

As a sole trader I only keep a Maximum of 20k, if there is more I put it in my own saving account…

I have no idea what most people do with money if the business does well?

If I was you, you need to know how much you need in the account for a year and maybe move the rest, I dont really see the point though…

Owner draw into an investment account.

Ireland

Keep it in a HYSA. Transfer over what’s need at the end to make payroll/CC payments.

The money is in the banana stand

We keep our savings from our small business Bitcoin. It’s the only hedge against inflation

Capital one 360 product - they have a business account but i think you have to be in CA…? i use a personal checking & hysa there for my small business (i’m a sole proprietor). easy to get to and no fees. you could just do the HYSA and add to your current checking to transfer funds (a day maybe since there would be different banks involved).

I was initially leaving it in a high yield savings account, wealthfront and mercury are great options for this, specially with the automated transfer. However, I would also discuss with an accountant to better offset taxes with property. Use the high-yield to save up for taxes, but if that can be safely allocated into a commercial property with a guaranteed 10-year lease, has much better returns on your money and tax free. Don’t forget to setup a 1031 exchange in case the economy turns or your business, so if you need to sell, specially with the added value of a long-term tenant, you can sell for a profit without being subject to capital gains tax!