I currently live in a HCOL coastal city and am looking to buy a condo in 5 years.

I just got a new job that will pay base plus a sizable bonus.

My question is what should I do with that bonus based on my time horizon to buy a place?

Right now I’m thinking I can open another HYSA solely as a “down payment fund” and if I save every bonus there for the next 5-6 years I’ll hit my target (assuming bonus stays flat).

Or, i was thinking of putting some of it in VOO or another low cost index fund to get a little bit better return since the time horizon is 5-6 years away.

Thinking it’s probably best to do the former (HYSA) but still wanted to know thoughts.

Also, I have no debt and a fully funded emergency fund and ample retirement savings so no need to consider allocating some of the bonus money to any one of those.