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08-11-2017, 10:34 PM | #1261 |
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Anyone have any good recommendations for higher paying Savings Accounts? I am looking to move our emergency savings into a savings account that gets 1%+ interest. Good for an extra few hundred dollars a year which is better than my current savings account.
This is the best I have found on the subject. http://www.magnifymoney.com/blog/ear...ounts275921001 Or any other ideas?
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08-12-2017, 12:17 AM | #1262 |
Woman should only make babies
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Knowing is one thing but executing is another. The good thing is that I am too lazy to send in more money on my 0 percent car payment or I probably would. Another good thing is my job in my 20's gave me money not a match just gave me retirement money so it was nice to have something before I even took the hit of taking money out of my paycheck.
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08-12-2017, 12:19 AM | #1263 |
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Hi guys.
I have owned a house for 15years. For the first time, due to moves, I sold it and I'm renting...for now. Hope to get back into a home I can buy in about year. In the meantime, the equity I had built up in previous home is sitting in cash savings. How should I invest it to minimize risk (I need it for down payment on next home in about year) but get best return (savings account is less than 1 percent return) |
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08-12-2017, 12:58 AM | #1264 | |
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Quote:
You realize that if you have $20,000 in an emergency fund and you are deciding between a .025% and a 1% fund it's all kind of bullshit and time for about $175 if you left it there for the entire year? Don't be so short sided. Buy a short term corporate bond for a much better yield
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08-12-2017, 01:00 AM | #1265 | |
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Quote:
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08-12-2017, 07:17 AM | #1266 | |
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08-12-2017, 07:20 AM | #1267 | |
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But really, if we're only talking about a year, it's not going to matter much. |
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08-12-2017, 08:28 AM | #1268 | ||
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Quote:
Quote:
Here's a 5 star Vanguard short term corporate bond Index. Had I parked money in there 5 years ago, it would have gained only .6% in those 5 years. And at some point had I needed the money, I could be selling some bonds while they are down. That can't happen in a 1% interest savings account. Bonds to me seem a bit shaky with interest rates sure to rise over the next decade. I'm not sure there's a great play there to park emergency savings unless you guys had something I'm missing? http://quotes.morningstar.com/chart/...&culture=en-US
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08-12-2017, 08:51 AM | #1269 | |
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08-12-2017, 08:59 AM | #1270 | |
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I want to park our emergency savings where they are still fairly liquid. Like if our AC goes out and needs replacement in the next few years, I take can take $10k from it and pay cash.
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08-12-2017, 09:42 AM | #1271 |
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Sorry, I just realized that scho was quoting you rather than Tiny. I agree, emergency funds are better in savings. I was thinking of him parking money for a few years until he buys a place again.
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08-12-2017, 10:24 AM | #1272 | |
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08-12-2017, 11:20 AM | #1273 |
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Ok. What's the penalty on a CD for cashing it before maturity?
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08-12-2017, 11:28 AM | #1274 | |
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Quote:
https://www.ally.com/bank/no-penalty-cd/
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08-12-2017, 12:02 PM | #1275 |
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