The best short-term investment mostly depends on the current yield, investment term, and risk tolerance. High-yield savings accounts and short-duration U.S. Treasury Bills are the best options for most investors as they have some of the highest yields and are low risk.  Investors should hold several short-time assets to manage risk and earn different yields that can regularly adjust before an investment matures. For example, you might build a CD ladder to capture the best rate for various terms.