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It depends on how large the payments are, but in many cases it would make sense to accumulate them probably in money markets, interest paying checking account or a brokerage account to make larger more economical stock transactions.

The timeframe you mention is relatively short for stock investments, but you seem experienced in those areas and may know some stocks you are comfortable with. Index funds seem a reasonable alternative.

If your timeframe has some flexibility, stocks become more attractive. Otherwise, parking the funds in a CD could be safest. Bonds of appropriate maturities could be used, but because interest rates are trending up at the moment, CD's are a better choice.
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