Rookie question on keeping proceeds from sale liquid

[Julia Taylor]

My husband and I sold our investment property and are about to close on selling our primary residence. We have not identified a new primary or investment property to purchase yet. We will have about $1.3M we want to keep liquid so we are ready to purchase when we find the right properties. What is the safest way to store the money and keep it liquid? We have some high-yield savings accounts at an online bank, as well accounts at our local bank where the interest rates are pathetic. I'm not sure I fully understand what FDIC insurance covers, but want to make sure our money is protected from any fraud or cyber incidents while we shop for another house. I may be overthinking this - I've just never had this much cash on hand and it makes me a little nervous!

[Joe Homs]

@Julia Taylor honestly, I would not worry about your money if you kept it with the Big three banks.  What worries me is that you may have sold your investment outright and not done a 1031 exchange?  If that is the case, then you will be paying on the capital gains taxes of the sale.  

With your primary you have a 1021 exemption you can use up to $500K (Married Couples) and if there is any gain above that then you will also have capital gain taxes on that.  Check with your CPA.

Good Investing...